New York City secured 24,500 affordable housing units last year, setting new record

Posted On Tue, January 16, 2018 By

Posted On Tue, January 16, 2018 By In affordable housing, Policy

Photo courtesy of Ed Reed/Mayoral Photography Office

Mayor Bill de Blasio on Tuesday announced another record-breaking affordable housing milestone: the city financed more than 24,500 affordable homes in 2017, the highest number in nearly three decades. Over the past four years, the de Blasio administration has created or preserved more than 87,500 affordable housing units, on pace to meet the city’s goal of 300,000 units by 2026. Under “Housing New York 2.0,” which the mayor unveiled in October, 25,000 affordable apartments will be secured each year until 2021. About half of the homes are set aside for individuals making $33,400 annually or $43,000 annually for a family of three.

“Housing is the number one expense in New Yorkers’ lives. We’re bringing that expense down by putting shovels in the ground, and putting keys in tenants’ hands,” de Blasio said. “There is more help than ever to fight eviction, freeze your rent or find an affordable home – and we want New Yorkers to reach it.”

After announcing his updated affordable housing plan, and then winning reelection the following month, de Blasio revealed several initiatives that build upon Housing New York 2.0, a plan that increases the original number of affordable units planned by 100,000. He rolled out an assistance program last month called “Open Door” which incentivizes the construction of co-ops and condos for moderate- and middle-income first-time buyers. “Home Fix” is a program that provides low- and moderate-income homeowners with low-interest loans to fund necessary home repairs. The city expects the two programs to help 2,100 New York City families more easily renovate and own homes over eight years.

De Blasio also announced plans to convert hundreds of cluster apartments, occupied by homeless families across the city, into permanently affordable units, possibly placing 3,000 people into permanent housing. In November, the city announced plans to develop innovative smaller homes on vacant lots and expand modular buildings and micro-units.

The city on Tuesday also launched a new housing web portal to help New Yorkers apply for affordable housing as well as access resources needed to fight eviction and freeze their rent.

New York City has seen a rapid growth in homelessness under de Blasio. Last February, an estimated 77,000 people occupied the city’s various shelter systems and or lived on the street. In January 2014, de Blasio’s first month as mayor, roughly 68,000 people were without homes.


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