The Board of Directors of the Housing Partnership Development Corporation has named Molly Wasow Park Chief Executive Officer of the nonprofit organization.

Ms. Park is a former Commissioner of the New York City Department of Social Services, the nation’s largest municipal social service agency. Prior to that, she served as First Deputy Commissioner at the City’s Department of Homeless Services and held senior positions at the City’s Department of Housing Preservation and Development.

For more than forty years, the Housing Partnership has helped expand affordable housing across New York City and beyond through innovative public-private partnerships, creating and preserving over 100,000 low and moderate-income housing units in the five boroughs, leveraging over $11.1 billion in private financing and utilizing more than $550 million in subsidies for affordable housing.

In making the announcement, Ronald Moelis, Chairman of the Board of Directors of the Housing Partnership, said “Molly Park brings important experience and skills as the Housing Partnership faces new dimensions and challenges in providing greater access for more New Yorkers to safe and comfortable affordable housing. Her unique background and expertise combine a deep knowledge of the realities of affordable multifamily residential development and preservation in New York City along with a responsiveness to social needs. This enables the Housing Partnership to broaden our range of services while maintaining our leadership in forming productive partnerships among City, State and Federal agencies and private sector property owners, developers and financial institutions. We are aligned with other stakeholders in the affordable housing community in supporting the successful implementation of the Mayor’s new housing plan that will benefit all New Yorkers.”

Mr. Moelis thanked Jamie Smarr for his service and said “Jamie Smarr has led the Housing Partnership through a challenging period for the affordable housing community, expanding into new lines of business as we strive to alleviate housing insecurity for New Yorkers.”

Molly Wasow Park said "I'm excited to take on this new role and to build on the Partnership's strong history in New York City's affordable housing sector. In this moment, when both affordable buildings and the tenants who live in them are struggling, the Partnership plays a key role in implementing innovative solutions that make housing more sustainable for landlords, tenants and communities. I look forward to leading this effort."

Dina Levy, Commissioner of the Department of Housing Preservation and Development, said "For over 40 years, the NYC Housing Partnership has been a leader in expanding access to affordable housing across New York. Molly Wasow Park, a dedicated public servant and fierce housing advocate, is the perfect choice to build on that legacy, and the Partnership is fortunate to have her at its helm. I'm excited to see what she and the team accomplish in the years ahead, building on Jamie Smarr's strong foundation."

Kathryn Wylde, who served as the Housing Partnership’s first President and CEO from 1982 through 1995, said “It is exciting to see the Housing Partnership bring in Molly Park in preparation for helping the Mamdani Administration achieve its ambitious housing agenda. Nonprofit intermediaries like the Partnership are the key to accelerating production and maximizing affordability today, as they were when the Partnership was launched in 1982.”

Eric Enderlin, President of the NYC Housing Development Corporation, said “The Housing Partnership has long played a vital role in advancing affordable housing and strengthening communities across New York City, and I can think of no one better suited to lead the organization into its next chapter than Molly Wasow Park. On behalf of everyone at HDC I extend heartfelt congratulations to Molly on her appointment. I look forward to continuing our important work together to ensure that more New Yorkers have access to safe, stable and affordable homes.”

Rachel Fee, Executive Director of the New York Housing Conference, said “Few leaders have Molly's depth of experience addressing New York's housing challenges. As she steps into her new role as head of the NYC Housing Partnership, Molly will be focused on one of the sector’s most urgent issues: preserving and stabilizing distressed affordable housing. At a time when it poses a growing challenge across New York, Molly is exceptionally well positioned to help advance solutions that preserve affordability and ensure these homes remain a stable resource for the communities that depend on them."

Jamie Smarr said, "I am proud to have served as CEO of the Housing Partnership where I have built upon the organization's 43-year history of delivering safe, affordable housing opportunities for middle-class New Yorkers."

Mr. Smarr will continue to serve the Housing Partnership as President through the end of 2026 to support the executive transition, after which time he will pursue career opportunities in real estate and economic development, his professional focus for over 25 years.

New Yorkers can get expert advice on buying a home for the first time, or applying for affordable rental housing through the HPD Housing Connect lottery, at the Pathways to Housing Expo on Saturday, June 27, in Manhattan, presented by the nonprofit NYC Housing Partnership.

The fourth annual Pathways to Housing Expo is free and open to the public from 10:00am to 3:00pm on Saturday, June 27, at the CUNY Graduate Center at 365 Fifth Avenue at 34th Street in Manhattan. Advance registration is strongly advised. Previous Affordable Housing Expos filled to capacity. To register to attend the Expo go to https://HousingExpo26.eventbrite.com. Space is limited.

New Yorkers preparing to buy their first home or seeking affordable rentals in this challenging housing environment will receive information and assistance from residential real estate and mortgage professionals, nonprofit housing counselors, legal experts and public agencies offering practical information and hands-on help.

Attendees will have access to a “Housing Hub” with a full day of sessions covering topics such as the ABCs of Home Buying, how to apply for affordable rentals through Housing Connect, “Keys to Renting Smarter, Living Better” and accessing down payment and closing cost assistance programs including HomeFirst, SONYMA and bank and employer grants.

A major highlight of the 2026 Pathways to Housing Expo is an opportunity to learn about NYC’s HomeFirst Down Payment Assistance Program which provides up to $100,000 in financial assistance for the purchase of a 1- to 4-family home, condominium or co-op in the five boroughs. HomeFirst is available to households earning up to 120% of Area Median Income (AMI). Completion of a HUD-certified housing counseling course, provided by the Housing Partnership, is a requirement for accessing this program.

“Our annual Expos draw overflow crowds of New Yorkers eager to learn about affordable rental housing, mortgage preparedness and down-payment assistance. We’re building on that interest and momentum with a bigger lineup of resources and experts,” said Jamie A. Smarr, President and CEO of the Housing Partnership.

“We want to help more New Yorkers access safe and comfortable affordable homes faster, both first time home buyers and those seeking rentals,” said Mr. Smarr.

“Our 2026 Pathways to Housing expo brings together an array of experts to provide New Yorkers with valuable information and tools to buy better, rent smarter and live securely,” said Emily McIntosh, the Housing Partnership’s Director of Homeownership Education. “The Expo is a natural extension of our mission. For those seeking to buy their first home or looking for an affordable rental, this is a major event for information and support.”

Attracting capacity crowds the Pathways to Housing Expo has become a leading public event to close the City’s housing gap. It is supported by community-based organizations, financial institutions, housing professionals and public sector partners committed to housing stability and economic opportunity.

“Sponsor and exhibitor opportunities remain available. Organizations interested in showcasing their services, expanding their community outreach and participating in a proven affordable housing event should visit https://www.housingpartnership.com/news/events/expo-2026,” said Ms. McIntosh.

A 2026 Pathways to Housing Expo Master Sponsor is the Soloviev Foundation, the charitable giving arm of the Soloviev Group. Its sponsorship reflects a shared commitment to expanding housing opportunities for New Yorkers.

“The Expo helps families and individuals unlock their housing futures. It attracts sponsors and partners from across the financial, real estate, nonprofit and community sectors,” said Mr. Smarr.

For more than four decades the nonprofit NYC Housing Partnership has led relationships among private sector developers and financial institutions and City, state and federal agencies that created and preserved 100,000 low and moderate-income housing units in the five boroughs, leveraging over $11.1 billion in private financing and utilizing more than $550 million in subsidies for affordable housing.

The NYC Housing Partnership has launched an Asset Management/Housing Stability Unit to strengthen asset management capacity across New York City’s affordable housing ecosystem which is facing increased financial stress as regulated rents fail to keep pace with rising operating costs.

Malcolm McGregor has joined the Housing Partnership as Chief Asset Management Officer, a newly created role, to lead the unit.

“Malcolm McGregor is a senior housing finance and policy leader with over 15 years of experience at the intersection of the real estate capital markets and affordable housing,” said Jamie Smarr, President & CEO of the Housing Partnership. “He adds his expertise and insights to our team at a crucial time for the affordable housing community. The new Asset Management/Housing Stability Unit is an important strategic expansion of the Housing Partnership’s mission to create and preserve affordable housing,” said Mr. Smarr.

Mr. McGregor joins the Housing Partnership from the Federal Housing Finance Agency where he served as senior policy analyst in the Office of Multifamily Analytics and Policy. Previously he was director of policy and analytics at the NYC Housing Development Corporation. Earlier in his career he served as senior project manager at the NYC Department of Housing Preservation and Development. Prior to that he worked in the private sector as a property manager. Mr. McGregor earned two degrees at the University of Virginia, a bachelor’s degree in political science and a Master of Public Policy at the University’s Frank Batten School of Leadership and Public Policy.

“Low interest rates masked significant problems across the City's rent-stabilized and regulated affordable housing stock. When money was cheap and refinancing was easier, thin margins and deferred maintenance could be managed. That era has ended. The operating assumptions under which regulated properties were financed no longer work—regulated rents cannot adjust to market conditions while expenses continue to rise faster than expected,” said Jamie Smarr.

“Our goal is to build partnerships that convert distressed properties into stable, performing assets, we are offering a path that is government adjacent that relies on our deep and enduring relationships with public agencies,” said Mr. Smarr.

To help property owners and developers meet this challenge, the Housing Partnership’s new Asset Management/Housing Stability Unit provides:

·         earlier identification of emerging risk,

·         tighter coordination among stakeholders, and

·         stronger follow-through so issues are addressed before they become crises.

“The Housing Partnership’s new Asset Management/Housing Stability Unit complements—not replaces—the roles of owners, managing agents, lenders, investors, and public agencies to support outcomes that protect residents and preserve long-term affordability of multifamily housing in New York City. We focus on building capacity and partnerships to identify risk early and coordinate timely stabilization—before issues require extraordinary intervention or public subsidy,” said Malcolm McGregor.

He points to “growing financial strain impacting the City's affordable housing stock, where regulated revenues have not kept pace with rising maintenance, capital improvements, insurance and energy costs.”

“These pressures create systemic risk. When distress emerges at scale, it slows credit, refinancing and new construction as lenders and investors recalibrate—compounding the crisis. Without early intervention and clear escalation pathways, isolated issues can become crises that undermine confidence across the affordable housing ecosystem,” warned Mr. McGregor.

“Property owners, CRE developers and portfolio managers, LIHTC syndicators, lenders, loan servicers, HDFCs and property managers tell us they need innovative solutions to meet the challenge of converting distressed multifamily affordable properties into stable, performing assets. We build special servicing asset management infrastructure to help them resolve their troubled assets by partnering with public agencies such as HPD, HDC and HCR,” said Mr. McGregor.

For more than four decades the nonprofit NYC Housing Partnership has led relationships among private sector developers and financial institutions and City, state and federal agencies that created and preserved 100,000 low and moderate-income housing units in the five boroughs, leveraging over $11.1 billion in private financing and utilizing more than $550 million in subsidies for affordable housing. 

Expanding programs that enable renters to become first time homebuyers would grow the housing supply as a part of the solution to the housing crisis, according to Jamie A. Smarr, President and CEO of the non-profit NYC Housing Partnership Development Corporation.

Smarr points to “New York’s HomeFirst Down Payment Assistance Program, which provides up to $100,000 in the form of a forgivable loan to qualifying first time homebuyers, which can serve as a national model.”

“This innovative program is aimed at first time buyers of 1- through 4-family homes, condominiums or cooperative apartments, whose household income does not exceed 120 percent of area median income.” Smarr said.

He called for the federal government and other states and municipalities “to roll out and promote similar programs to enable renters to become homeowners, which strengthens the economic and social fabric of their communities.”

“Like residents in most large cities, New Yorkers overwhelmingly reside in rental apartments. The ability of renters to buy homes for the first time expands access to housing, making it part of the solution to the housing shortage,” said Smarr.

The HomeFirst Down Payment Assistance Program provides up to $100,000 in the form of a forgivable loan to qualifying first time buyers of 1- through 4-family homes, condominiums or cooperative apartments. New York State programs add additional financial support for first-time homeowners with a household income that does not exceed 120 percent of area median income.

To draw attention to this valuable program, the NYC Housing Partnership’s annual Affordable Housing Expo attracts over 1,000 attendees seeking information on down payment assistance that is available for their first home purchase.

“The HomeFirst Down Payment Assistance Program should be more energetically promoted by the city and state through a multi-language public service ad campaign using a full array of broadcast, cable, digital and print media, to generate greater awareness of — and demand for — the program. Banks offering residential mortgages should market the HomeFirst Down Payment Assistance Program through their advertising, websites and social media, in-branch signage and staff training,” Smarr said.

On the supply side, he said builders and contractors should be encouraged to produce affordable one- through four-family homes for middle-income first-time homebuyers. A new Build the Dream program could offer specific meaningful incentives to home builders such as:

• Access to low interest construction financing

• Identifying underutilized city- and state-owned parcels that are too small or oddly shaped for large multifamily construction, but well suited for individual homes, and these sites could be sold at favorable terms to builders.

• Sales tax relief on construction materials

• Hiring bonuses for employing construction workers residing in the communities in which the new homes are located

“Build the Dream would also create new opportunities for small businesses and minority-owned firms, while expanding construction trades training and employment opportunities in our communities,” Smarr said.

“On a national scale, this requires productive collaboration among state and local legislative bodies, Governors and Mayors, nonprofit affordable housing advocates, the private sector and banks and other lenders to quickly increase access to affordable, safe and comfortable homes. Let’s achieve the dream of affordable home ownership,” said Smarr.

For more than four decades the nonprofit NYC Housing Partnership has led relationships among private sector developers and financial institutions and City, state and federal agencies that created and preserved nearly 100,000 low and moderate-income housing units in the five boroughs, leveraging over $11.1 billion in private financing and utilizing more than $550 million in subsidies for affordable housing.

The New York City Housing Partnership has launched a major new program funded by a multi-year partnership with Airbnb to support gig workers and self-employed New Yorkers to qualify for mortgages to buy their first home.

“The lack of regular paystubs, W-2s or 1099s to document income often puts gig workers at a disadvantage when applying for a mortgage to buy their first home,” said Jamie A. Smarr, President and CEO of the non-profit NYC Housing Partnership. “The economy has undergone significant shifts for middle-class Americans. The goal for our new Pathways to Homeownership program is to help gig workers, freelancers, seasonal workers and the self-employed with non-traditional sources of income become homeowners. The program will also advise them how to present rental or hosting income to mortgage lenders when buying a house.”

Smarr expects the Pathways to Homeownership program to assist 1,000 gig workers annually in buying their first homes.

“Home ownership strengthens the social and economic fabric of neighborhoods throughout New York City,” said Smarr.

The Housing Partnership’s new Pathways to Homeownership program offers gig workers tailored workshops and one-on-one counseling to help document gig/self-employment income required for mortgage approval, as well as access to city, state and private down payment assistance and training classes on how to create income, sustain ownership, avoid foreclosure and build equity.

“Homeownership is one of the strongest pathways to building long-term financial stability and generational wealth, but too often low- and middle-income New Yorkers without traditional income sources have been shut out of the American Dream,” said Warren Gardiner, Airbnb New York Senior Policy Manager. We’re committed to supporting the NYC Housing Partnership in making homeownership a reality for New Yorkers to further the work they have been integral to for decades across New York City.

Funded in part through this multi-year partnership with Airbnb, the Housing Partnership maintains its broad mission—now in its 44th year—of creating and preserving affordable housing in the five boroughs of New York City by leading public-private partnerships as a non-profit joined by private sector developers and financial organizations, and City, state and federal agencies.

“This significant donation strengthens our ability to increase access to safe, comfortable affordable housing for New Yorkers,” said Jamie A. Smarr of the Housing Partnership.

"Access to homeownership has long been out of reach for independent workers due to outdated mortgage systems that don’t reflect the realities of self-employment. The Pathway to Homeownership program helps bridge a critical gap by supporting gig workers who are ready to buy a home but face barriers due to how their income is reported. We welcome this new initiative and Airbnb’s investment as a meaningful step to close that gap. Freelancers are building the future of work — it’s time our financial systems caught up.," said Rafael Espinal, President of Freelancers Union.

The NYC Housing Partnership’s Pathways to Homeownership program is an important expansion of its successful U.S. Department of Housing & Urban Development (HUD) approved Homeownership Counseling Program, established in 2005 to help low- to moderate-income New Yorkers fulfill the American Dream of homeownership.

“We partner with labor unions, organizations representing gig economy workers and community and faith-based organizations to reach target populations with financial coaching, subsidy navigation and ongoing post-home purchase counseling to sustain mortgages, accelerate equity growth and build intergenerational wealth. This helps create knowledgeable and default-resilient buyers ready for a lifetime of homeownership,” said Smarr.

“The Housing Partnership’s Home Ownership Counseling program provides all the necessary tools for first-time homebuyers to navigate the complex home purchase process. Our education and counseling programs are conducted by one of our HUD Certified Housing Counselors,” said Smarr.

The Housing Partnership also offers a Landlord and Tenant Training program for those purchasing homes covering the rights and responsibilities of being a good landlord. Landlord/Tenant training is required to purchase a home with a Community Reinvestment Act mortgage.

“Affordable home ownership for first-time buyers is a component of a multi-faceted solution to New York’s housing crisis,” said Smarr.

For more than four decades the nonprofit NYC Housing Partnership has led relationships among private sector developers and financial institutions and City, state and federal agencies that created and preserved nearly 100,000 low and moderate-income housing units in the five boroughs, leveraging over $11.1 billion in private financing and utilizing more than $550 million in subsidies for affordable housing.

North Cove Apartments, a new housing development bringing 611, 100 percent affordable units to the Inwood section of upper Manhattan, will receive the 2025 Innovation Award from the NYC Housing Partnership.

The 2025 Innovation Award will be presented to Maddd Equities and Joy Construction, developers of North Cove Apartments, at the Housing Partnership’s 42nd Anniversary gala luncheon on October 22nd.

“The 2025 Innovation Award recognizes Maddd Equities and Joy Construction making a reality of their ambitious vision of the location, scale and amenities of 611 safe and comfortable affordable homes for New Yorkers in this appealing new community, one of the largest in Manhattan,” said Jamie A. Smarr, President and CEO of the Housing Partnership.

North Cove is a 30-story multi-use development at 375 West 207th Street at the corner of Ninth Avenue. It is a vibrant residential community on the Harlem River waterfront that enhances the existing natural ecosystem of the property.

“The project site was rezoned as part of the Inwood Rezoning Plan. North Cove is an excellent example of creating new affordable housing and revitalizing neighborhoods through a collaborative partnership among the private sector, nonprofit organizations such as the Housing Partnership, and public agencies,” said Mr. Smarr.

North Cove Apartments’ units are income restricted for households earning between 27 and 100 percent of Area Median Income (AMI). Fifteen percent of the units are set aside for formerly homeless households who will be provided onsite support services.

Residents will enjoy a wide range of amenities including:

• Bike storage

• Recreation rooms

• Shared laundry facilities

• Outdoor lounges and picnic areas

• Free high-speed internet in every unit

A public waterfront park is also being developed adjacent to the site on land provided by New York City, further enhancing the community’s appeal.

Designed by Aufgang Architects, the 295-foot-tall, 544,000-square-foot building includes:

· 61,000 square feet of retail space on the first two floors including:

· A 35,000 Food Bazaar supermarket

· 120 parking spaces

With a total development cost of around $410 million, North Cove was financed by Wells Fargo Community Lending and Investment, Low Income Housing Tax Credits (LIHTC), New York State Brownfield Redevelopment Tax Credits, NYCHDC and NYC HPD.

Construction of the building created job opportunities for MWBE companies and utilizes Enterprise Green Community energy efficiency design standards.

The Housing Partnership’s luncheon gala brings together stakeholders in the City’s affordable housing community, including developers, architects, attorneys, lenders, faith leaders, and affordable housing advocates on Wednesday, October 22nd, at Gotham Hall in Manhattan.

The Housing Partnership is a 501(c)3 nonprofit organization that serves as an intermediary among public agencies, developers, financial institutions and residents to increase opportunities for quality affordable housing to low- and moderate-income households in New York City.

For more than four decades the nonprofit Housing Partnership has led relationships among private sector developers and financial institutions and City, State and Federal agencies that created and preserved more than 88,000 low and moderate-income housing units in the five boroughs, leveraging over $11.1 billion in private financing and utilizing more than $540 million in subsidies for affordable housing where people can live in safe, comfortable, affordable homes.