Mayor Bill de Blasio announced a new Mitchell-Lama Reinvestment Program to protect the long-term affordability of the City's remaining Mitchell-Lama developments.
The key piece of the City's accelerated 300,000-apartment affordable housing plan will invest $250 million to protect 15,000 Mitchell-Lama apartments at risk of flipping to market-rate.
Mayor Bill de Blasio announces the City is now on track to build and protect 200,000 affordable homes by 2022, two years ahead of schedule.
With the addition of new tools, programs and funding, the City will ramp up to securing 25,000 apartments annually, setting a new goal of 300,000 homes by 2026.
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