Abigail Patterson

My focus

My practice focuses on affordable housing transactions utilizing a range of federal, state and municipal programs. In my prior role as general counsel for the Housing Partnership Development Corporation, I gained substantial experience with affordable housing incentives such as Article XI, Affordable New York and Inclusionary Housing, as well as advising my client on nonprofit governance and best practices.

Looking ahead

As construction costs rise, available land becomes scarce and federal subsidies are under threat, the demand for affordable housing in New York is higher than ever. In response, owners and developers are seeking novel approaches to affordable housing development and, particularly for nonprofit clients, joint ventures with other nonprofits, religious organizations, for-profit developers and community-based organizations, can build capacity and access to financing that might not otherwise be available. While these structures present additional complexity, they also have the potential to capitalize on the respective strengths of project partners, and ultimately to create more housing for hardworking New Yorkers.

On the preservation front, recent changes to the rent stabilization law in New York will have a profound effect on the operation of many properties throughout the city and state. I look forward to advising clients on leveraging tax abatements and exemptions to devise solutions for the ongoing viability of their properties.

Insights

• “The Latest on Real Property Tax Exemptions for Affordable Housing,” Annual New York State Affordable Housing Conference, May 17, 2023 (Speaker)
• “The Ins and Outs of Article XI,” NYSAFAH's 2022 Annual New York State Affordable Housing Conference, May 18, 2022 (Panelist)