We are currently ahead of the affordable housing production goals we set in 2014. At the end of June 2018, the New York City Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) have created or preserved 109,766 affordable homes, surpassing the targets to date.
But our work is much more than just numbers. We are driven by the needs of real people. HNY ensures that our investments today help individuals and families achieve economic stability, live in safe and healthy homes, and enjoy the sense of community that makes New York City buildings and neighborhoods unique. As we provide housing opportunities to low and moderate-income New Yorkers at an unprecedented scale, we have worked tirelessly to create a number of tools that lay the foundation for our city to grow in a more equitable way.
Keeping People in Their Homes
Over the past four years, the City has made significant investments to preserve the quality and affordability of the existing affordable housing stock. At the same time, renters benefited from limited increases in their rent-stabilized rents. As tenants saw more relief on their rents overall, we also advanced a targeted agenda to protect tenants including introducing universal access to legal representation, launching a Tenant Harassment Prevetion Task Force, and expanding the SCRIE and DRIE programs.
Doing More for Special Populations
In all our work, we have prioritized the need to provide pathways to permanent housing for our city's homeless, created more affordable housing for our growing senior population, and made sure there is more housing accessible to New Yorkers with disabilities. We launched OurSpace, committed to create 15,000 supportive housing aparments over the next 15 years, and created the new Senior Affordable Rental Apartments (SARA) program.
Ensuring Overall Housing Supply Increases in an Equitable Way
We implemented a Mandatory Inclusionary Housing (MIH) policy - the most aggressive in the nation - to require permanent, mixed-income affordable housing in areas rezoned for residential growth. We passed Zoning for Quality and Affordability (ZQA) with the City Council in 2016, to remove many regulatory barriers that significantly constrained the creation of affordable and senior housing projects. We fought for, and won, a reformed 421-a program, and accelerated the Request for Proposal (RFP) pipeline.
Using New Tools and Strengthening Partnerships
The production of affordable housing is a complicated enterprise. From the outset of the plan, we have looked at every way to leverage new sources of financing and introduce new tools. At the same time, we have worked hard to expand the tent to ensure the affordable housing community is as diverse as the city we serve. We piloted a new Federal Financing Bank (FFB) partnership, expanded the capacity of Minority- and Women-owned Business Enterprises (M/WBEs) and non-profit community development corporations, and advanced the growth of Community Land Trusts (CLTs).