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: