What are the benefits of getting a SONYMA Project Set-Aside?
By approving projects for builders, developers, and local community sponsors as a Project Set-Aside, SONYMA gives developers a powerful marketing tool by enabling them to offer low-cost, fixed-rate mortgages to qualified buyers. A full range of community development and neighborhood preservation activities are eligible under Project Set-Aside. Projects may include the renovation of existing structures; both small or extensive new construction developments; conversion of lofts, factories, and school type buildings; mid and high rise condominiums and cooperatives; fee-simple townhouses; garden-style projects and standard subdivisions.
