August 7, 2020
Co-op City's 15,000 apartments will remain affordable for another three decades; Photo by David L Roush on Wikimedia
The city has financed 30,023 affordable homes in the fiscal year 2020, with more than half of the homes serving families earning less than $52,000, Mayor Bill de Blasio announced on Wednesday. Of the homes financed, 23,520 were preserved and 6,503 were new construction. The milestone comes as the mayor's ambitious plan to preserve and build 300,000 affordable homes by 2026 is facing delays thanks to the pandemic, which has forced the city to cut funding for new affordable housing projects.
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