The population of city residents who are at least 65 years old is projected to increase by 40 percent between 2010 and 2040. This means that we will need to house more than 400,000 additional seniors in the coming years. Our seniors are more likely to be low-income, to be rent-burdened, and to live on a fixed income than other city residents.
To reach more of our growing senior population, the de Blasio Administration has committed to creating or preserving 30,000 senior households by 2026 under the Housing New York
plan. HPD finances the construction of senior housing through the Senior Affordable Rental Apartments (SARA)
HPD has also launched Seniors First
, a three-pronged strategy including Aging in Place
, an initiative to make more homes accessible to seniors and people with disabilities; developing new senior housing on NYCHA land; and preserving more of the senior housing originally developed through federal housing plans.