Unlocking Historic Tax Credits to Preserve New York City’s Existing Affordable Housing.
Preservation Is Part of the Housing Solution.
Affordable housing is one of the most significant issues impacting New York City today. However, the focus has mostly been on the development of new housing and less on the issues plaguing the preservation of existing, older affordable housing.
Thousands of affordable apartments are located in buildings that are now 50 to 100 years old. Many of these properties face decades of deferred maintenance, aging building systems, and shrinking sources of capital funding. Without new investment, these buildings—and the affordable units they contain—are at risk.
The Historic Districts Council believes historic preservation tools can be part of the solution.
Many older affordable housing developments may be eligible for listing on the National Register of Historic Places, making them eligible for federal and New York State Historic Rehabilitation Tax Credits. These incentives, alongside existing financial incentives from the city and private funders, can provide substantial financial support to rehabilitate historic buildings while preserving the affordable housing they contain.
Across New York City, many historic apartment buildings continue to provide affordable homes. This project identifies neighborhoods where concentrations of historic affordable housing may be eligible for preservation incentives that support long-term investment and rehabilitation.
About the Project
The Protecting Historic Affordable Housing initiative is a two-year research and planning project that explores how historic preservation incentives can help preserve New York City’s affordable housing stock.
Through research, mapping, outreach, and pilot projects, HDC will identify historic affordable housing developments that may qualify for National Register listing and work to increase awareness of historic tax credit opportunities among affordable housing owners and partners.
The project will also develop a replicable framework that communities across New York City—and eventually across the country—can use to preserve historic affordable housing through preservation incentives and thoughtful public policy.
Project Goals
The project seeks to:
- Identify historic affordable housing developments that may be eligible for National Register listing.
- Map concentrations of historic affordable housing across New York City.
- Increase awareness of federal and state historic rehabilitation tax credit programs.
- Develop educational resources for nonprofit and private affordable housing owners.
- Prepare a pilot National Register nomination for a historic affordable housing district.
- Develop recommendations for expanding this work citywide through future National Register nominations and policy initiatives.
Our Approach
Year One: Research & Mapping
The first year focuses on understanding where preservation opportunities exist.
Activities include:
- Compiling data on affordable and rent-regulated housing from multiple public sources.
- Working with mapping specialists to identify historic affordable housing developments across New York City.
- Conducting interviews with preservation, housing, and tax credit experts.
- Identifying priority clusters of historic affordable housing with strong potential for National Register listing.
- Developing public educational resources, including project maps, fact sheets, and a research brief.
Year Two: From Research to Action
Building on the findings from Year One, the second year shifts toward implementation.
Activities include:
- Developing outreach materials explaining National Register listing and historic tax credits.
- Working with nonprofit and private affordable housing owners.
- Selecting a pilot district for National Register nomination.
- Preparing a draft National Register nomination.
- Developing a long-term strategy for expanding National Register listings to additional historic affordable housing neighborhoods throughout New York City.
Why the National Register?
Unlike New York City landmark designation, which recognizes and protects significant historic buildings but does not provide financial incentives, listing on the National Register of Historic Places can make eligible rehabilitation projects qualify for federal and New York State Historic Rehabilitation Tax Credits.
These incentives can provide an important source of capital for repairing and modernizing older affordable housing while preserving the historic buildings that contribute to New York City’s neighborhoods.
Did you know?
Listing on the National Register of Historic Places does not place a property under New York City Landmarks Preservation Commission (LPC) regulation. However, it can make eligible rehabilitation projects qualify for valuable federal and New York State Historic Rehabilitation Tax Credits, providing new funding opportunities for preserving affordable housing.
Looking Ahead
By the end of the project, HDC will have:
- Identified priority historic affordable housing districts across New York City.
- Completed a pilot National Register nomination.
- Created educational resources for owners and preservation partners.
- Developed a strategy for expanding National Register listings to additional neighborhoods.
- Produced recommendations that can help make historic preservation a stronger tool for protecting affordable housing.
By highlighting the potential of historic tax credits, this initiative demonstrates how historic preservation can support the long-term preservation of affordable housing and become a more active part of New York City’s housing strategy.
Project Advisors
- Chris Cirillo, Executive Director & President, Ascendant Neighborhood Development
- Al Shehadi, Principal, Shehadi Advisory
- Ian Volner, Journalist, Author, and Co-organizer of HDC’s 2025 conference on historic affordable housing.
Questions?
For questions about the project, partnership opportunities, or National Register and historic tax credit resources, please contact Emma Bartley, Historic Districts Council’s Preservation & Research Manager, at [email protected].
Protecting Historic Affordable Housing is supported by The New York Community Trust