Housing New York:
A Five-Borough, Ten-Year Plan

Housing New York

Affordable housing is part of the bedrock of what makes New York City work. It's what underpins the economically diverse neighborhoods New Yorkers want to live in. It's critical to providing financial stability for working families, helping them get ahead and build a better life. And yet today, we face a crisis of affordability. New Yorkers are spending more and more to cover their housing costs, and entire neighborhoods have lost their affordability. That is why we created Housing New York: A Five-Borough, Ten-Year Plan to build and preserve 200,000 affordable units over the coming decade for households, to support New Yorkers with a range of incomes, from the very lowest to those in the middle class. This is a plan to get ahead of the curve, to protect neighborhoods and build our city's next generation of affordable housing.

The plan outlines over 50 initiatives to support our goal of building or preserving 200,000 units of high-quality affordable housing, broken down into four categories:

  • Foster thriving and inclusive neighborhoods
  • Improve and preserve the affordability and quality of our existing housing stock
  • Build unprecedented numbers of new affordable homes
  • Better serve the homeless and those most in need of support

For more information, visit the NYC Housing website.

Housing New York: Three Years of Progress

Housing New York: Three Years of Progress

Housing New York: Three Years of Progress describes the inroads made towards the goals of the Housing New York plan.

By creating innovative and cost effective programs to create sustainable affordable housing for the very lowest-income families – including seniors, veterans and families in City shelters – the administration has created more homes for the lowest income New Yorkers than in previous administrations. The administration is ahead of schedule to reach its goal of creating or preserving 200,000 units of affordable housing in ten years.

Fiscal Year 2017 saw the financing of 7,705 new apartments and 16,588 preserved homes. This represents a direct investment of $1 billion by the City of New York, which leveraged more than $1.3 billion in bonds issued by the Housing Development Corporation during Fiscal Year 2017. This brings total direct City investment under the housing plan to $2.8 billion, and total bond financing to $5.5 billion.

For more information on the close of the 2017 Fiscal Year, see the press release.


Housing New York by the Numbers
(through 6/30/17) 

 

Construction TypeFY 2017 HNY StartsHNY Starts to DateHNY Starts to Date %
New Construction 7,705 25,342 33%
Preservation 16,588 52,309 67%
Total 24,293 77,651


BoroughFY 2017 HNY StartsNew Construction HNY Starts to DatePreservation HNY Starts to DateTotal HNY Starts to Date
Bronx 9,149 9,788 14,236 24,014
Brooklyn 4,785 7,434 14,060 21,494
Manhattan 6,797 4,935 18,927 23,862
Queens 3,507 2,704 3,522 6,226
Staten Island 55 491 1,564 2,055


AffordabilityAMI %3-Person HouseholdFY 2017 HNY StartsHNY Starts
Extremely Low 0-30% ≤$25,770 4,014 11,505
Very Low 31-50% $25,771-$42,950 6,437 13,277
Low 51-80% $42,951-$68,720 9,945 37,699
Moderate 81-120% $68,721-$103,080 1,157 5,064
Middle 121-165% $103,081-$141,735 2,261 9,720
Other Super N/A 119 386

Homeless & Senior UnitsFY 2014 HNYFY 2015 HNYFY 2016 HNYFY 2017 HNYHNY to Date
HNY Homeless Start Units 480 1,575 1,907 2,571 6,533
HNY Senior Start Units 602 1,723 1,373 929 4,627