On May 13, 2026, Governor Kathy Hochul announced the second round of awards under the MOVE-IN NY program: $19 million in funding to create 56 new affordable apartments across the state.
According to the New York State Homes and Community Renewal agency, which administers MOVE-IN NY, the second round brings the program's cumulative total to approximately $39 million across two rounds. The first round, announced in late 2025, deployed roughly $20 million to a similar set of projects.
The program targets a specific gap in the affordable housing finance ecosystem: small projects, in smaller communities and underserved areas of the state, that often do not attract conventional lending or competing federal funding sources. The MOVE-IN structure makes funding available through the state for projects with fewer than 100 units, where the smaller scale historically makes capital harder to obtain.
Program structure
MOVE-IN NY funds affordable housing development and preservation through a combination of capital, soft-debt financing, and technical support. The program's design includes:
— Capital grants. Direct funding to projects, typically supplementing other financing sources.
— Soft-debt structuring. Loans with terms below conventional commercial financing rates, including extended repayment timelines.
— Technical assistance. Support for community development financial institutions (CDFIs) and smaller nonprofit developers that may lack in-house finance teams.
— Geographic distribution. The program prioritizes projects in upstate communities and in NYC neighborhoods underserved by other capital sources.
The second-round awards include projects across upstate counties and certain NYC neighborhoods. The 56 new units represent a small share of the state's overall affordable housing need but reflect deliberate placement in submarkets where private financing has not produced supply.
Where MOVE-IN fits in the larger picture
MOVE-IN NY is one component of Governor Hochul's $25 billion, five-year Housing Plan, announced in the fiscal year 2023 enacted budget. The plan commits to creating or preserving 100,000 affordable homes statewide, with 10,000 designated for supportive populations and electrification of an additional 50,000 homes.
According to HCR data, more than 80,000 homes have been created or preserved under the broader plan to date.
MOVE-IN sits within that larger framework as a targeted instrument for harder-to-finance projects. The $39 million committed through MOVE-IN's two rounds represents a small fraction of the $25 billion plan total — but the per-unit deployment rate is high relative to the difficulty of placing the underlying projects.
How this relates to NYC-specific finance initiatives
The second-round MOVE-IN announcement comes within a window of several other significant NYC housing finance initiatives:
— NYC Housing Investment Initiative (April 15, 2026). Comptroller Mark Levine announced $4 billion in pension fund capital committed to affordable housing development and preservation over four years.
— HPD capital plan in the FY 2027 executive budget (May 12, 2026). The Mamdani administration's $124.7 billion executive budget includes $4 billion in new HPD capital funding plus $500 million in fiscal year 2031 for affordable housing creation and preservation.
— Milford Street insurance collective loan (May 11, 2026). Governor Hochul announced a $2 million loan to a member-owned insurance collective serving affordable housing operators, addressing rising insurance cost pressures on smaller building owners.
— SPEED reforms (May 13, 2026). The Mamdani administration's lottery and lease-up reform package, intended to accelerate the affordable housing pipeline.
Each instrument operates within its own framework. The MOVE-IN program is among the smaller in dollar terms but addresses a specific category of project — small, often upstate, often serving populations underserved by larger finance vehicles.
What the funded projects look like
According to HCR's announcement, the 56 units include:
— Supportive housing units, including some serving formerly homeless populations.
— Family units affordable to households earning below 60 percent of area median income.
— Senior housing in specific upstate counties.
— Mixed-use developments combining affordable housing with neighborhood-serving commercial space.
The specific projects funded in the second round are listed on the HCR website. Project announcements typically include the developer (often a nonprofit or community development organization), the location, the number of units, and the targeted income levels.
What this means for tenants
For prospective tenants of MOVE-IN-funded projects, several practical points apply:
Application processes vary by project. Unlike the centralized NYC Housing Connect system, MOVE-IN-funded projects typically use their own application and waiting-list processes managed by the individual developer or property manager. Interested tenants should contact the specific project directly.
Income tiers and unit availability vary. The 56 units across the second-round awards cover several different income tiers, household sizes, and locations. Eligibility for any specific project depends on its specific program structure.
Timelines are longer than commercial leasing. Affordable housing financed through state programs typically goes through phases — financing approval, construction (or rehabilitation), and lease-up — that span 18 to 36 months from funding announcement to tenant move-in.
For NYC residents specifically, the share of MOVE-IN's second-round funding flowing to NYC projects is limited. The program's design favors upstate and underserved areas where other capital is harder to obtain. NYC-specific affordable housing financing flows primarily through HPD programs and, as of April 2026, through the pension fund initiative.
The broader state housing finance picture
The MOVE-IN NY program represents one strand of a multi-track state housing finance strategy that has unfolded under the Hochul administration since 2023. The strands include:
— Direct development financing through SONYMA, HCR, and related state agencies. — The state Housing Access Voucher Program (HAVP), with $50 million in first-year funding announced in the FY 2026 state budget. — Various tax credit and tax abatement programs at the state level. — State partnership with NYC initiatives, including the additional aid announced jointly with Mayor Mamdani on May 12 to help close the city's budget gap.
For tenants, the practical effect of these instruments is delayed. Affordable housing financed in 2026 produces occupiable units between 2028 and 2030 in most cases. The 56 units announced on May 13 will become available to tenants over that horizon.
What comes next
The third round of MOVE-IN awards is expected in late 2026 or early 2027, per HCR's program schedule. The Housing Plan's 100,000-home target is set for the five-year period ending in FY 2028.
Sources: New York State Homes and Community Renewal press release, "Governor Hochul Announces Second Round of MOVE-IN NY Awards" (May 13, 2026); New York State Homes and Community Renewal website, hcr.ny.gov; New York State $25 billion Housing Plan (FY 2023 enacted budget); HCR Housing Plan Data Dashboard reporting 80,000+ homes created or preserved through the broader plan; New York City Comptroller's Office NYC Housing Investment Initiative press release (April 15, 2026); NYC Mayor's Office FY 2027 Executive Budget press release (May 12, 2026); NYC Mayor's Office SPEED reform release (May 13, 2026); NYS Homes and Community Renewal Milford Street insurance loan announcement (May 11, 2026); New York State Housing Access Voucher Program (HAVP) funding announcement (FY 2026 state budget).
