Mayor Eric Adams. Photo Credit: facebook.com/NYCMayor
Mayor Adams announced several achievements over the last fiscal year in the multiagency effort to get New Yorkers into quality affordable homes. On September 15, 2022, Mayor Eric Adams announced that despite challenges like inflation, his administration connected nearly 10,000 families and individuals to stable, affordable homes in Fiscal Year 2022 (FY22). As part of the Mayor’s Housing Blueprint, his administration ensured that housing investments prioritized the experiences of New Yorkers, and that key metrics measure meaningful outcomes for households as well as the number of homes financed.
With support from Housing Preservation and Development (HPD) and the Department of Social Services (DSS), 6,173 New Yorkers were approved for homes through the affordable housing lottery. 2,203 households formerly experiencing homelessness were connected to homes set aside in HPD developments, while 1,521 households exiting shelter secured supportive housing.
Additionally, HPD, the NYC Housing Authority (NYCHA), and the Housing Development Corporation (HDC) were able to finance the creation and preservation of 21,951 affordable homes in FY22. This figure includes both 16,042 new affordable homes financed by HPD and 5,909 public housing apartments that received upgrades and repairs. NYCHA also renovated over 2,600 public housing units through the Permanent Affordability Commitment Together (PACT) program.
In addition to investing in public housing, the city targeted low-income households and home ownership in FY22. More than 75 percent of HPD-financed homes are affordable to low-income households earning 80 percent Area Median Income (AMI), or less than $96,080 for a family of three. Homes for extremely low-income families, earning 30 percent AMI or less than $36,030 per year for a family of three, increased to 23 percent of total production. The administration also invested a record $9 million to help families achieve homeownership through HomeFirst, the city’s down payment assistance program for first-time buyers. HPD financed renovations for 126 properties through the HomeFix and Project Help programs, which help existing homeowners maintain housing. Adams will invest an additional $44 million in expanding homeownership, particularly for low-income communities and communities of color.
Chief Housing Officer Jessica Katz praised these figures while also acknowledging that the city has more work to do, stating, “The Adams administration is committed to tackling the housing shortage and ensuring that all New Yorkers have a home they can afford. This year, in the face of skyrocketing costs and other hurdles, the team worked incredibly hard to finance 22,000 homes, with the vast majority for families that are too often priced out of New York City. We are especially proud of reaching a record number of families through NYCHA’s PACT program, which provides comprehensive repairs while keeping the home permanently affordable.”
HPD Commissioner Adolfo Carrion Jr.: “We are focused on building quality, affordable homes that will give all New Yorkers the chance to thrive . . . This year, the city kept its commitment to serving the New Yorkers who need it the most and promoting equitable neighborhoods by helping thousands of households experiencing hardship secure stable, affordable homes and overseeing a record investment in the city’s first-time homebuyers program. There is more work to be done, and we are focused on making our city a more affordable and equitable place to live.”
Mayor Adams: “I have said since January that our administration would be laser-focused on getting New Yorkers into safe, high-quality, affordable homes, and now we are producing results. In just a few months, we have begun to break down silos and focus on housing our neighbors instead of signing paperwork, and this initial data shows that New Yorkers are reaping the benefits. As we remain in affordable housing and homelessness crises, the administration is taking action, and these numbers prove it.”
By: Cassidy Strong (Cassidy is a CityLaw intern and a New York Law School student, Class of 2024.)
Mayor Adams Announces City Connected 10,000 Households To Stable, Affordable Housing In Fiscal Year 2022, September 15, 2022.