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Building Congress: City’s on Track with Affordable Housing Goals
The de Blasio administration is meeting its goals for affordable housing, according to the New York Building Congress. Specifically, NYBC said nearly 35,000 new units of affordable housing have been created since 2014, along with preservation, about 29% of the 300,000-unit target.
Noting that Mayor Bill de Blasio has prioritized affordable housing since he became mayor, NYBC president Carlo A. Scissura called it “a tremendous credit to him and his administration that they not only achieved their goal but are actually exceeding expectations.
“The lack of affordable housing for New Yorkers is an emergent and worsening crisis. Members of the design, construction and real estate industry must continue to work with the mayor’s office to remedy this housing shortfall, and keep New York City a great place to live.”
Most of the affordable construction has received a tax benefit, most commonly the Article XI benefit for corporations building low-income housing.
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