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More Affordable Seniors Housing

New York City will seek proposals from developers to build 300 new affordable apartments for seniors on three underused sites on public housing projects owned at the New York City Housing Authority at the Sotomayor Houses in the Bronx, Bushwick II Houses (Group E) in Brooklyn, and the Baruch Houses in Manhattan (pictured).

It’s just one piece of the City’s new, expanded plan to create or preserve 30,000 units of affordable housing for elderly New Yorkers over the 12 years that will end in 2026. Of those, 5,000 have already been financed.

“Today, we are doubling our initial commitment to senior housing,” said Maria Torres-Springer, commissioner of the city’s Dept. of Housing Preservation and Development (HPD).

– The city will spend $150 million to make 15,000 units of housing accessible to seniors, helping seniors age in place.

– City agencies will help finance the development of 4,000 new, affordable seniors apartments, including 1,000 on under-used NYCHA sites.

– City agencies will help preserve 6,000 existing, affordable seniors apartments.

For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson

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