Application Period Opens June 17 for New Affordable Housing Financing Program
Westchester County Executive Ken Jenkins announced the launch of the County’s Housing Flex Fund II, a new $25 million affordable housing initiative designed to accelerate the development and creation of affordable homes across Westchester County. The application period opens on June 17 and will remain open through Aug. 21, inviting eligible developers to compete for funding to help advance affordable housing projects in communities throughout the County.
Housing Flex Fund II builds on the success of the County’s existing housing programs by providing flexible financing for developments in need of the last bit of funding to begin construction of new rental and homeownership units, those with supportive housing units and developments that preserve affordability. The program is expected to significantly increase the County’s annual affordable housing production while prioritizing developments in transit-oriented locations and areas with limited affordable housing options.
Westchester County Executive Ken Jenkins said: “Every family deserves access to a safe and affordable place to live. Housing Flex Fund II is another example of Westchester County’s commitment to investing in solutions that create housing opportunities and support long-term economic growth. This program will help move important projects from the drawing board to construction, creating more affordable homes for current and future residents.”
Westchester County Department of Planning Commissioner Blanca Lopez said: “Housing Flex Fund II provides developers with an important financing tool that will help close funding gaps and bring more affordable housing projects to completion. With our support of projects that are ready to move forward and located in communities with access to transportation, jobs and amenities, this program will have a lasting impact on housing availability throughout Westchester County.”
Applicants must submit a complete funding package that includes a development proposal, project narrative, financial pro forma and project budget. Eligible rental developments must provide housing for households earning 65% of the Area Median Income or below, while affordable homeownership developments may serve households earning up to 80% of the Area Median Income for a minimum of 50 years. Applications serving those at the lowest incomes possible, including supportive housing units will receive additional priority. Applications will be reviewed after the application period closes, with funding awards expected to be approved later this year and disbursements beginning in 2027.
Starting June 17, developers interested in applying or learning more about Housing Flex Fund II can review program guidelines by visiting the Department of Planning website at: planning.westchestercountyny.gov
Applications can be requested by sending an email to: HousingFlexFund2026@westchestercountyny.gov
