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Big NYC Policy Changes Create Affordable Housing

Mayor Bill de Blasio’s plan to finance 200,000 new affordable housing units in 10 years is on track to succeed because of “landmark” policy changes, according to “Housing New York: Three Years of Progress,” a report released Jan. 19.

“Three years in, we are seeing the comprehensive set of policies and programs we’ve implemented take hold and deliver real results,” said Vicki Been, commissioner for New York City’s Department of Housing Preservation and Development.

For example: Mandatory Inclusionary Housing requires developments in booming neighborhoods to include affordable housing. Zoning for Quality and Affordability improved the zoning code to lower the cost of building affordable housing, and foster a new generation of homes for seniors

Over the past three years, NYC financed a record-breaking total of 62,506 affordable residences, keeping the city on schedule to meet its goal of financing 200,000 affordable residences over 10 years.

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