Image credit: Mayoral Photography Office
City pushes forward on its goal to create 300,000 affordable homes and produces a record number of affordable units for homeless, seniors, and those in need of supportive services. On July 30, 2019, the Office of the Mayor announced that the City has financed 25,299 affordable homes for 2019. The Mayor plans to finance 300,000 affordable homes through the Housing New York plan by 2026.
Of the 25,299 homes, 54 percent will serve very low-income families earning less than $48,000 per year, with more than 5,300 homes for families of three earning less than $28,800 per year. Over 4,000 of the 25,299 affordable homes and over 36,000 of the total 135,437 Housing New York (HNY) units financed to date will remain permanently affordable. The remaining units are subject to binding regulatory agreements that ensure affordability for at least a generation.
So far this year, the City has seen more production of affordable housing for seniors, homeless, and people in need of supportive services than any year on record. The City has financed nearly 2,000 affordable homes for seniors, bringing the total of senior restricted units financed since the beginning of the de Blasio administration to 8,476. Over 1,330 supportive housing units have been financed this year. Supportive Housing combines affordable housing with specialized programs for chronically homeless individuals and families.
HPD recently launched the Affordable Independent Residences for Seniors (AIRS) program. The program will leverage the zoning code to accelerate the creation of affordable, rent-stabilized homes for seniors throughout the City.
HNY Production to Date:
| Construction Type | FY 2019 Starts | % | HNY Totals | % |
| New Construction | 9,029 | 36 | 43,930 | 32 |
| Preservation | 16,270 | 64 | 91,507 | 68 |
| Total | 25,299 | 135,437 |
| Borough | HNY New Construction Total | HNY Preservation Total | HNY Total |
| Manhattan | 7,437 | 32,953 | 40,390 |
| Bronx | 15,562 | 24,925 | 40,487 |
| Brooklyn | 14,378 | 25,444 | 39,822 |
| Queens | 6,032 | 6,498 | 12,530 |
| Staten Island | 521 | 1,687 | 2,208 |
| Total | 43,930 | 91,507 | 135,437 |
Full numbers for the 2019 Fiscal Year are available here.
Mayor de Blasio said, “We are making tremendous progress in our goal to expand affordable housing in our city, and this year we’ve produced a record number of homes for our most vulnerable friends and neighbors. Each affordable home secured is a family served, and we’re going to continue to push forward on our goal to make New York a fairer city for all.”
By: Laine Vitkevich (Laine is a CityLaw Intern and a New York Law School student, Class of 2020).