Land acquisition
We will acquire or secure control of land suitable for new construction, evaluated for mission fit, zoning, utilities, environmental conditions, and financing feasibility.
Our approach
A disciplined model for building new affordable housing
Hearthmont is envisioned as a professional housing developer, not primarily a grantmaking charity, combining public subsidy, private capital, tax-credit equity where eligible, lenders, municipalities, and experienced joint-venture partners.
Development model
Four ways we plan to create homes
Ground-up rental
New, high-quality rental apartments built from the ground up for families and working households, with durable affordability and sound long-term management.
Senior housing & homeownership
Independent senior housing and affordable homeownership, pursued where demand and funding support the project.
Joint-venture partnerships
On early transactions, we plan to partner with experienced nonprofit or for-profit affordable housing developers to build execution capacity and track record, while maintaining clear charitable control and protections.
Geography
Hudson Valley first
Our initial geography is Orange, Rockland, and Westchester counties, New York. In Orange and Rockland, rents have outpaced renter wages.
Over time, we will consider selective expansion to Sullivan County and other Hudson Valley markets where affordability need, approvals, infrastructure, and financing align, with potential expansion across New York State.
Initial geography
Orange CountyRockland CountyWestchester County
Selective expansion
Sullivan CountyOther Hudson Valley markets
Financing
Bringing public and private capital together
Affordable housing is financed by combining many sources. Depending on eligibility and program rules, Hearthmont expects to explore sources such as these.
Eligibility, award amounts, application windows, and allowable combinations require program-specific diligence. No awards or financing commitments have been made.
- NYS Homes and Community Renewal (HCR) programs
- Low-Income Housing Tax Credits (9% and 4%)
- Tax-exempt bonds
- State and local HOME programs
- FHLBNY Affordable Housing Program
- Affordable homeownership programs
- CDFI acquisition & predevelopment lending
- USDA rural housing resources
- Private lenders & investors
Long-term stewardship
Built to last, not just to build
Beyond each development, Hearthmont plans to build lasting in-house capabilities so that homes stay well-run and affordable for the long term.
Development
Site selection, design, approvals, and construction oversight.
Compliance
Meeting affordability and program requirements over the life of each project.
Asset management
Sound financial stewardship of every property.
Community engagement
Resident participation and local partnership from the start.
Have land, capital, or a project in mind?
We want to hear from municipalities, landowners, lenders, developers, and housing agencies across the Hudson Valley.