HDFC Coalition

The HDFC Coalition advocates for privately owned Housing Development Fund Corporation, or HDFC, cooperatives and the shareholders who call them home. 
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Decades ago, the City was desperate to rid itself of over 10,000 buildings abandoned by slumlords during the Fiscal Crisis of the 1970s, and creating HDFC co-ops was one of various methods the city used to sell off and dispose of thousands of unwanted buildings. The typical HDFC co-op was formed by the City of New York's Department of Housing Preservation and Development (HPD) and sold to residents or homesteaders of abandoned multifamily buildings.  Most of the buildings were sold in extremely poor condition as the City typically demanded that most residents take the buildings "as-is" or with very minimal repairs. HDFC co-ops are NOT public housing.  There are approximately 1,200 HDFC co-ops containing approximately 30,000 apartments housing approximately 90,000 New Yorkers.