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Affordable Production Reaches New Annual High
The de Blasio administration financed 32,116 affordable homes in 2017, breaking the all-time annual record previously set by then-Mayor Ed Koch in 1989 with 25,243 units. The city also broke the record for the highest annual volume of new construction with 9,140 affordable homes, 57% of which are intended for low-income residents.
To date, the Housing New York (HNY) initiative announced by Mayor de Blasio in 2014 has resulted in 109,767 affordable units being financed, whether as new construction or through preservation of existing units.
“By advancing developments on large public sites, implementing policies to require more affordable housing on private sites, pushing to secure the affordability of large Mitchell-Lamas, and seeing new programs to reach small buildings take hold, among other initiatives, we surpassed the new baseline established in HNY 2.0” last year, said Maria Torres-Springer, Commissioner of Housing Preservation and Development.
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- ◦Financing
