The pair have played key roles this season for City's Under-21 side, who find themselves in an almost identical position to their first-team counterparts - four points off the top of the National Group table with two games in hand on leaders Liverpool.
Allen told the club's official website: "It's fantastic that they've both agreed to stay - it's commitment from them to the club and from the football club to their development.
"Jordy's shown great dedication to come back from his injury this season and I think that the way he has performed and the desire he has shown to get back to this level is a credit to him.
"He has shown himself to have an unbelievable attitude right throughout the whole academy system. For me, he's a model professional because he listens and he does everything he possibly can to get the most out of himself."
Allen added: "Patrick's been a great role model for Shay in terms of leadership and I'm delighted to see how much he's taken everything Patrick has given him on board.
"The team have helped with that too, they've taken Shay on to a new level that we all knew he was capable of and it's just so pleasing to see it coming to fruition.
"He's received international honours now and we believe he can kick on even further now."
Facey has represented England at Under-17 level.