The names of Andrew Carnegie and Henry Clay Frick are well known in New York City and beyond for Carnegie Hall and for the Frick Collection. Though the institutions built by these two steel magnates are important to the city’s cultural identity, the organization built by their lesser known (but just as wealthy) associate, Henry Phipps, has had and continues to have, a more material effect on the lives of New Yorkers. His legacy, Phipps Houses, is the oldest non-profit developer of affordable housing, erecting its first buildings in 1906 and actively developing and managing properties today.

Phipps Houses, ca. 1905. In the early part of the twentieth century, the entire block span between First and Second Avenues on East 31st Street was the site of the Phipps Houses. Completed in 1906 and designed by Grosvenor Atterbury, the building was commissioned by steel magnate Henry Phipps. Also a philanthropist, the building was Phipps' first attempt to curb the rising tuberculosis epidemic in the city by improving living conditions for paying tenement tenants. Home to 142 apartments, each unit at the Phipps Houses included two to five rooms, individual bathrooms, and a finished courtyard. Although rent was $14 monthly, which was $4 more expensive than usual tenement rent at the time, the building was designed to maximize the wellbeing of those who would live there. An early brochure said: "This enterprise is not a charity. Tenants are not asked to accept anything free. All that they pay for in their rent they will receive." Atterbury's design for the Phipps Houses was the first of its kind in the city. The complex was grand and constructed with varied brickwork to maximize airflow. Unlike other tenement buildings, Phipps also designated the bottom floor of his development as space for tenants to receive social services and counsel.

Kips Bay Towers, 1966. The two towers of the Kips Bay Plaza Apartments were completed between 1960 and 1963. Designed by I.M. Pei and S. J. Kessler, the Brutalist style complex was erected on what had been the first Phipps Houses, a series of tenements created as working class housing just after the turn of the century. The two towers are massive 21-stories of glass and raw concrete facades. They were conceived as a middle-income rental project, but just 20 years later were converted to condominium apartments over the objections of a substantial number of residents.