Clinton Housing Development

What Clinton Housing Development does

Clinton Housing Development Company (CHDC) is a New York City not-for-profit community-based organization founded in 1973 to preserve and create permanently affordable housing in the Clinton/Hell's Kitchen and Chelsea neighborhoods of Manhattan. CHDC directly develops, owns, and manages affordable rental housing, HDFC cooperative housing, and supportive housing serving households across a 30% to 165% Area Median Income (AMI) range, alongside 55 commercial/retail spaces and a portfolio of community event venues and artist studios including the Clinton Cameo Studios, McNulty Building, and Hartley House. The organization complements its real estate portfolio with adjacent community development services: MWS Community Planning delivers technical assistance to Manhattan Community Board 4, and the Cultivate HK program develops community gardens, parks, and civic engagement initiatives.

The underlying business model is asset-based and diversified across recurring revenue streams. Primary income derives from apartment rental income on the housing portfolio (766 households currently served), supported by commercial and retail leasing of 55 spaces, affordable co-op ownership arrangements, and rental of event/studio spaces to artists and community groups. A fifth stream is technical assistance and consulting services to community boards, block associations, and neighborhood nonprofits. Pricing is directly tied to NYC HPD affordable housing guidelines; for example, 540 West 53rd Street units ranged from $1,091/month studios to $3,270/month two-bedrooms under the 165% AMI band. Go-to-market combines NYC's centralized Housing Connect lottery (where 540 West 53rd Street attracted 57,000+ applications for 103 units), direct tenant transfers and inquiries, partnership with brokers like Howard S. Aaron of Compass for commercial leasing, and self-serve online portals for event space bookings.

CHDC operates from its headquarters at 403 West 40th Street in New York, NY 10018, with a 112-person staff organized across seven functional divisions (Development, Housing Management, Housing Maintenance, Horticulture, Community Cultivation, Finance, and Operations) and under the leadership of Executive Director Joe Restuccia since 1986. Strategic partnerships anchor the model: Hudson Guild provides on-site social services at five supportive housing locations; NYC HPD provides below-market financing and Low-Income Housing Tax Credit equity; and the Taconic Investment Partners joint venture has delivered inclusionary housing developments. The organization has catalyzed $200M+ in community investment, holds $203M+ in net assets, and has been recognized with the 2020 Brick in Architecture Bronze Award for the 540 West 53rd Street development.

Name

Clinton Housing Development

Legal name

Clinton Housing Development Company

Website

https://clintonhousing.org

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

11–50 employees

Short description

Clinton Housing Development Company is a 1973-founded New York City not-for-profit that develops, owns, and manages affordable rental, HDFC co-op, and supportive housing across 79 buildings in Clinton/Hell's Kitchen and Chelsea, serving 766 households at 30%-165% of AMI while also providing commercial space, artist studios, and community planning services.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Lessors Of Real Property, Nec (6519), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

akta.pro secondary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

Keywords

• Affordable housing development
• Supportive housing management
• Community development services
• Commercial property leasing
• Community planning consulting

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Apartment Rental Income: CHDC generates rental income from affordable apartments serving households across a wide AMI range (30%–165%). Income is recurring from tenants and represents the primary operating revenue.
2. Commercial and Retail Space Leasing: CHDC leases 55 commercial and retail spaces to neighborhood businesses, not-for-profit organizations, and cultural tenants, generating stable recurring rental income.
3. Affordable Co-op Ownership: CHDC has developed and assists in managing affordable cooperative housing (HDFC co-ops), where shareholders own units, providing long-term financial stability for the organization and the community.
4. Consulting and Technical Assistance Services: CHDC provides technical assistance to block associations, neighborhood nonprofits, Manhattan Community Board 4, and other community organizations for planning and development, which may include fee-for-service arrangements.
5. Event and Studio Space Rental: CHDC rents rehearsal studios (Clinton Cameo Studios), the McNulty Gallery, Hartley House event spaces, and community event spaces to artists, theater groups, and community members at affordable rates.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Clinton Housing Development Company (CHDC) is a not-for-profit community-based organization that develops, preserves, and manages permanently affordable rental housing, HDFC cooperative housing, and supportive housing for households at 30%–165% of Area Median Income in Manhattan's Clinton/Hell's Kitchen and Chelsea neighborhoods. It complements this housing portfolio with affordable neighborhood retail and not-for-profit office space, artist studios and event venues, community planning and technical-assistance consulting, and a neighborhood greening/community-cultivation program.

Product overview

Clinton Housing Development Company (CHDC) operates as a not-for-profit community-based organization offering a comprehensive portfolio of affordable housing and community development services. The core offerings include affordable rental housing and HDFC cooperative housing serving households from 30% to 165% of AMI, along with supportive housing with social services for vulnerable populations. Complementary commercial services encompass neighborhood retail spaces, not-for-profit work spaces, and community event venues including Clinton Cameo Studios, McNulty Gallery, Hartley House, and various community spaces. Community development programs include MWS Community Planning for urban planning technical assistance and Cultivate HK for green space development and community cultivation. The organization also preserves the Paddy's Market Historic District on the National Register of Historic Places.

Differentiator

Problem solved

Functional benefit

Brands

• Cultivate HK: Program that creates sustainable and interconnected community spaces, facilitating projects that connect people to green spaces, deepen civic engagement, and strengthen neighborhood commitments.
• Clinton/Hell's Kitchen Studios

Products and services

• Affordable Rental Housing Development and long-term management of affordable rental apartments serving households earning 30%–165% of NYC Area Median Income, including studios, one-, two-, and three-bedroom units across 79+ buildings in Clinton/Hell's Kitchen and Chelsea.
• HDFC Co-Op Housing Affordable cooperative housing developed and assisted under the Housing Development Fund Corporation (HDFC) program, enabling moderate- and middle-income households to purchase shares in buildings that CHDC developed or stabilized from prior owner abandonment.
• Supportive Housing Permanent housing paired with on-site social services for formerly homeless individuals, elderly residents, people with mental illness, and persons with HIV/AIDS, delivered in partnership with Hudson Guild.
• Neighborhood Retail and Commercial Spaces 55 affordable retail, dining, and service spaces within CHDC-owned buildings leased to neighborhood-serving small businesses, restaurants, and service providers on the west side of Manhattan.
• Not-For-Profit Office and Work Spaces Affordable office and work spaces within CHDC buildings leased to community-based not-for-profit organizations providing housing advocacy, legal services, and cultural programming.
• MWS Community Planning and Technical Assistance Technical assistance, urban planning studies, site planning, and open-space planning for the Middle West Side, provided to Manhattan Community Board 4, block associations, and neighborhood nonprofits, including review of proposed developments, rezoning amendments, and zoning enforcement.
• Cultivate HK Community Cultivation Program Community cultivation program creating sustainable and interconnected green spaces in Clinton/Hell's Kitchen and Chelsea through sidewalk gardens, key parks, tree planting, and community events such as farmers markets, voter registration drives, and tenant activities.
• Clinton Cameo Studios (Rehearsal Studios) Two 990-square-foot rehearsal studios with sprung floors at 307 West 43rd Street, available to not-for-profit arts groups at affordable rates for rehearsals, performances, workshops, and events.
• McNulty Building (Artist Studios, Rehearsal Spaces, Theaters, and Gallery) 10-story community facility on West 52nd Street providing 14 artist studios, 6 rehearsal spaces, 7 music studios, offices for theater companies, three performance theaters, and an art gallery (McNulty Gallery) for not-for-profit arts organizations and individual artists.
• Hartley House (Event Venue) Historic venue at 413 West 46th Street comprising four 1840s rowhouses with theater, courtyard, parlor dining room, and smaller rooms available for rental as event space.
• Community Event Spaces Community rooms with kitchens, courtyards, and roof gardens across CHDC buildings available for public rental for various events, bookable through CHDC's online portal.
• Key Parks Network Network of locked community parks and gardens in Hell's Kitchen developed and maintained in partnership with the Hell's Kitchen Neighborhood Association, including Alice's Garden, Bob's Park, Teresa's Garden, and Juan Alonso Community Garden.
• Paddy's Market Historic District (Preservation Initiative) Historic district designation and preservation initiative covering nine block fronts on either side of Ninth Avenue between West 35th and West 40th Streets and portions of surrounding blocks, listed on the National Register of Historic Places.

Quantifiable outcome

• Over 1,200 units of affordable housing developed since 1973 across 80 buildings.
• +5 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Hudson GuildcoreStrategic or Co-development PartnerHudson Guild is CHDC's primary social services partner, providing on-site social services at five CHDC supportive housing locations with 12 dedicated staff members. During COVID-19, Hudson Guild also donated freezer contents from its early childhood and senior food programs to support CHDC tenants with meal preparation.
• Manhattan Community Board 4 (MCB4)coreStrategic or Co-development PartnerMCB4 is a key strategic partner for CHDC's community planning work. CHDC provides technical assistance to MCB4 on evaluating proposed private sector developments and public improvements, reviewing rezoning amendments, and tracking zoning enforcement. CHDC also works with MCB4 on urban planning studies, site planning, and community-based initiatives including the Paddy's Market Historic District nomination.
• Hudson Yards Hell's Kitchen AllianceminorStrategic or Co-development PartnerThe Hudson Yards Hell's Kitchen Alliance is a not-for-profit that manages improvements and programming in the Hell's Kitchen and Hudson Yards Business Improvement District. Listed as a partner on CHDC's website, they co-presented on Paddy's Market Historic District designation.
• NYC Department of City PlanningminorStrategic or Co-development PartnerNYC Department of City Planning provides information about zoning, Special Districts, and neighborhood studies that are relevant to CHDC's community planning and technical assistance work.
• Taconic Investment PartnerscoreStrategic or Co-development PartnerCHDC partnered with Taconic Investment Partners on the 540 West 53rd Street and 525 West 52nd Street affordable housing development project, using inclusionary housing zoning to create permanently affordable units. Taconic served as the private development partner while CHDC provided community development expertise.
• Councilmember Corey JohnsonminorGTM or Marketing PartnerCouncilmember Corey Johnson's office partnered with CHDC during COVID-19 to help distribute food boxes to tenants through the Get Food NYC program, and supported the Paddy's Market Historic District nomination.
• Rescuing Leftover CuisineminorOthersSince 2018, CHDC has worked with Rescuing Leftover Cuisine to receive donated unused restaurant food for distribution to CHDC tenants during the COVID-19 pandemic and beyond.
• Irish Arts CenterminorStrategic or Co-development PartnerIrish Arts Center at 553 West 51st Street is a long-term CHDC cultural tenant. CHDC is working with Irish Arts Center on the expansion of the Juan Alonso Community Garden in conjunction with the redevelopment of the neighboring Irish Arts Center site.
• Assembly Member Linda Rosenthal's OfficeminorGTM or Marketing PartnerPartnered with CHDC's Cultivate HK program during its 2019 Voter Registration Week, which engaged over 1,000 New Yorkers across nine voter registration events.
• Avenues SchoolminorGTM or Marketing PartnerA private school in Chelsea that donated lunch every Wednesday and dinner every Friday between April and September 2020 for CHDC's supportive housing buildings — nearly 250 meals per week — and continued support through the 2020 holiday season.
• New Yorkers for Parks (NY4P)minorStrategic or Co-development PartnerPartnered with CHDC's Cultivate HK program on the Daffodil Project, planting 800 daffodil bulbs at DeWitt Clinton Park in November 2019 as part of NY4P's living memorial to 9/11 victims.
• Housing Conservation Coordinators (HCC)minorStrategic or Co-development PartnerHCC is a community-based not-for-profit tenant at 500 West 52nd Street, dedicated to advancing social and economic justice and preserving affordable housing. Historically, HCC partnered with CHDC on tenant organizing efforts and building stabilization at 300 West 46th Street.

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• The Related Companies: Large national developer with major NYC affordable and mixed-income portfolio (e.g., Hudson Yards inclusionary housing); comparable in producing mixed-use affordable housing in Manhattan but operates at much larger scale with for-profit parent.
• Enterprise Community Partners: National nonprofit affordable housing developer and investor with significant NYC activity; comparable mission of affordable housing preservation/development but operates at much broader geographic and capital scale.

Direct peers

• L+M Development Partners: NYC-focused affordable and mixed-income housing developer active in Manhattan and the Bronx; comparable in using inclusionary zoning, LIHTC, and partnerships with HPD to produce multifamily affordable units.
• NYC Housing Partnership: NYC nonprofit affordable housing developer and preservation specialist; comparable in developing new construction and preserving affordable units via partnerships with HPD and private developers.
• Settlement Housing Fund: NYC nonprofit developing and preserving affordable housing for low- and moderate-income families, including co-ops and HDFCs; directly comparable in mission, geography (Manhattan focus), and HDFC co-op expertise.
• MHANY Management Inc. NYC nonprofit developing and managing affordable housing in Manhattan and Brooklyn; comparable nonprofit structure and affordable housing mission, including HDFC co-op experience.
• West Side Federation for Senior and Supportive Housing: NYC nonprofit operating supportive and affordable housing primarily on the West Side of Manhattan; directly comparable in operating supportive housing units and West Side geographic focus, with similar HPD contracting model.
• Phipps Houses: One of NYC's largest nonprofit affordable housing developers and operators; comparable mission of developing and managing multifamily affordable and supportive housing, with similar NYC HPD/LIHTC financing model.
• Habitat for Humanity New York City: NYC nonprofit affordable housing developer serving low- and moderate-income households; comparable in developing and managing affordable units and partnering with HPD, though broader geographic footprint than CHDC.

Others

• Hudson Yards Hell's Kitchen Alliance: Local nonprofit managing the Hell's Kitchen/Hudson Yards BID with overlapping geography and programming partnerships with CHDC (e.g., Paddy's Market historic district); adjacent ecosystem participant rather than housing competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/cultivatehkny?lang=en
• Facebookfacebook.com/cultivatehkny
• LinkedInlinkedin.com/company/7321960
• Instagraminstagram.com/cultivatehkny/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Clinton Housing Development