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.