Northeast Brooklyn Housing Development Corporation (NEBHDCo) was incorporated in January 1985 as a 501-C (3) not-for-profit organization with a mission to provide affordable rental housing to low-income residents of Central Brooklyn, with an initial focus on advocacy through block associations, merchant and tenant organizing. The organization’s housing development experience began in earnest in 1988 with a grant from the New York State Housing Trust Fund Corporation to develop a 16-unit limited-equity cooperative utilizing a Community Land Trust model.
To date, NEBHDCo has planned, joint-ventured, and developed 2093 housing units of which 1082 are owned by the organization, as well as nearly 17,000 square feet of commercial space throughout the central Brooklyn community. This volume represents over $109 million in capital investments, and has created nearly 600 new local jobs. NEBHDCo’s neighborhood preservation efforts have focused in a catchment area consisting of four neighborhoods in Brooklyn: Bedford Stuyvesant (Community District 3), Crown Heights (Community District 8), East New York (Community District 5), and Ocean-Hill/ Brownsville (Community District 16). We have steadfastly built our real estate portfolio through the acquisition of distressed public properties and well-crafted joint-venture partnerships, most extensive of which has been with The Arker Companies, a Long Island-based private builder/developer since 1949.