NYC Launches Workforce Housing Fund 

Mayor Eric Adams, along with the Building and Construction Trades Council of Greater New York and Vicinity (BCTC) President Gary LaBarbera and Cirrus Workforce Housing Advisors, LP (Cirrus), unveiled a groundbreaking partnership to construct workforce housing for essential workers.  

This initiative, backed by over $100 million from BCTC-affiliated pension funds and Cirrus, aims to address the housing crisis faced by hardworking New Yorkers. The partnership, supported by a historic memorandum of understanding with the city, signifies a collaborative effort between government, labor, and private enterprise to combat housing challenges.  

By leveraging union funds and public-private cooperation, the initiative seeks to provide affordable housing options for New York City’s workforce. This innovative approach reflects the administration’s commitment to tackling the affordability crisis and fostering equitable housing opportunities for all residents. 

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.