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:
For more information, visit the NYC Housing website.
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.
|Construction Type||FY 2017 HNY Starts||HNY Starts to Date||HNY Starts to Date %|
|Borough||FY 2017 HNY Starts||New Construction HNY Starts to Date||Preservation HNY Starts to Date||Total HNY Starts to Date|
|Affordability||AMI %||3-Person Household||FY 2017 HNY Starts||HNY Starts|
|Homeless & Senior Units||FY 2014 HNY||FY 2015 HNY||FY 2016 HNY||FY 2017 HNY||HNY 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|