NEW YORK — Mayor Zohran Kwame Mamdani joined city officials, housing partners and neighborhood residents on June 10, 2026, to celebrate the ribbon-cutting of ANCP Morningside, a new affordable homeownership project that converted three long-neglected Manhattan buildings into permanently affordable cooperative homes.
The project created 36 affordable homes and two ground-floor commercial spaces in Morningside Heights and Central Harlem. The development was financed through the New York City Department of Housing Preservation and Development’s Affordable Neighborhood Cooperative Program, known as ANCP, which rehabilitates city-owned buildings and converts them into resident-controlled affordable cooperatives.
ANCP Morningside was developed with Genesis Companies, Habitat for Humanity New York City and Westchester County, and financing support from the Community Preservation Corporation. Habitat’s project description says the ANCP Morningside cluster includes buildings on Manhattan Avenue, West 115th Street and West 116th Street, all of which had been part of the Tenant Interim Lease program before moving into ANCP.
A Homeownership Model for Working-Class New Yorkers
The Mamdani administration is presenting ANCP Morningside as a model for expanding affordable homeownership at a time when many New Yorkers are priced out of buying a home. Unlike traditional market-rate ownership, shared-equity cooperatives are designed to help families build stability and limited equity while keeping homes permanently affordable for future residents.
“Projects like ANCP Morningside show what is possible when we expand cooperative and community ownership,” Mayor Mamdani said, connecting the ribbon-cutting to his broader housing agenda.
The administration’s Block by Block: The Housing Plan for a New Era, released on May 26, calls for building 200,000 new affordable homes and preserving 200,000 existing affordable homes over the next decade, backed by a $22 billion five-year housing capital investment.
What the Block by Block Plan Includes
The city says the Block by Block plan will increase affordable homeownership opportunities, support resident-controlled co-ops, expand community land trusts and help existing homeowners remain in their homes.
The plan also includes:
- Expansion of affordable homeownership through HPD programs
- A new Our Home program to convert more buildings into resident-controlled cooperatives
- Growth of the Open Door affordable homeownership program
- Expansion of HomeFirst down payment assistance
- A new Mayor’s Office of Deed Theft Prevention
- A Mortgage Assistance Program for low-income homeowners facing financial hardship
- Strengthening of the HomeFix repair program
- More support for accessory dwelling units, known as ADUs
The administration says these initiatives are meant to address housing affordability not only for renters, but also for New Yorkers trying to build long-term stability through ownership.
City Officials Praise the Project
Deputy Mayor for Housing and Planning Leila Bozorg said the city’s housing strategy is about more than shelter. She described the plan as a way to give New Yorkers “a safe home where they can build a life.”
HPD officials also emphasized that affordable homeownership remains a critical part of the city’s broader housing policy. Patrick Love, HPD Deputy Commissioner for Development, said the project shows how the city can preserve affordability while helping families build equity in their neighborhoods.
Manhattan Borough President Brad Hoylman-Sigal called ANCP Morningside “a powerful example” of investing in long-term community stability at a time when many Manhattan residents are being priced out.
Council Member Yusef Salaam said the project protects Harlem’s legacy by helping working families own homes and pass that stability to future generations.
Why ANCP Morningside Matters
For New York City, ANCP Morningside represents more than one ribbon-cutting. It is part of a larger debate over how the city should respond to the housing crisis: through new construction, preservation, co-op conversion, tenant protections, homeowner assistance and public-private partnerships.
Supporters say affordable co-ops give working families a real stake in their neighborhoods. Critics of large city-led housing plans often question cost, bureaucracy and the role of government in the housing market. But for the families moving into ANCP Morningside, the immediate result is clear: formerly abandoned or neglected buildings have been turned into stable, permanently affordable homes.
As housing costs continue to pressure New Yorkers across all five boroughs, the Mamdani administration is positioning ANCP Morningside as a practical example of how city-owned property, nonprofit development and mission-driven financing can create new pathways to homeownership.
Official Links and Resources
Learn more about ANCP Morningside, NYC affordable homeownership programs, and the Block by Block housing plan through official and partner resources.
- NYC Mayor’s Office: Mayor Mamdani Cuts Ribbon on Affordable Co-Ops at ANCP Morningside
- Official Transcript: ANCP Morningside Ribbon-Cutting Event
- NYC HPD: Affordable Neighborhood Cooperative Program — ANCP
- NYC HPD: ANCP Program Overview PDF
- NYC Mayor’s Office: Block by Block Housing Plan Announcement
- Habitat for Humanity NYC and Westchester: ANCP Morningside Project
- Community Preservation Corporation
- NYC Department of Housing Preservation and Development