Benefiting Lower-Income Communities
The City Ventures Fund works with nonprofit organizations to retain the period details of both landmark buildings and non-landmark buildings that are architecturally significant that are being converted to affordable housing or other uses that benefit lower-income communities. Since 1986, the Fund has provided over $1.5 million in grants and loans, resulting in the creation of over 1,100 affordable apartments.
All City Ventures funding is accompanied by the project management services of the Conservancy staff, consulting architects, and engineers. They help define the scope of work and prioritize project components, identify appropriate contractors and craftspeople, and review contracts and bids. Importantly, this program endeavors to make publicly funded renovations of older buildings indistinguishable from market-rate projects.
Eligible organizations include non-profit housing corporations, community development organizations, social service agencies, homesteading groups, and mutual housing associations that are restoring historic buildings. The property does not need to be officially a landmark, only architecturally interesting.
City Ventures grants range from $5,000 to $30,000. Grants underwrite bricks-and-mortar components of building renovation projects and professional fees; priority is given to essential structural repairs and exterior work that have a visual impact on the neighborhood.
Inquiries from non-profit organizations only should contact Kyunhea West at 212-995-5260