On August 21, 2024, New York City Mayor Eric Adams announced the issuance of Executive Order 43, which requires City agencies to review their city-owned and controlled land to determine which sites can be appropriate for potential housing development sites. This order is in response to New York City’s affordable housing crisis. The goal of this executive order is to support the Adam’s administration plan of building 500,000 new homes by 2032.
Search Results for: Affordable Housing
City Agrees to $500 Million Investment to Build and Preserve Affordable Housing
On July 22, 2024, New York City Mayor Eric Adams, New York Governor Kathy Hochul, and New York City Comptroller Brad Lander announced a $500 million agreement between Mayor Adams, The Battery Park City Authority (BPCA), and Comptroller Lander. The $500 million agreement involves BPCA providing $500 million in excess operating funds to New York City’s Affordable Housing Accelerator Fund to provide New Yorkers improved access to housing by building more affordable housing.
Governor Reveals Proposal for Affordable Housing Transformation of Former Bayview Correctional Facility Site
On July 22, 2024, Governor Kathy Hochul announced the proposal for Liberty Landing, a project to convert the former Bayview Correctional Facility in the Chelsea neighborhood of Manhattan into a multi-faceted community hub. The hub would include a community facility unit and an affordable housing residence.
HPD Celebrates Opening of Senior Affordable Housing in Brooklyn
On July 3, 2024, the New York City Department of Housing Preservation and Development and IMPACCT Brooklyn celebrated the grand opening of 811 Lexington Avenue Senior Residences in Bedford-Stuyvesant, Brooklyn. This building replaced the Mars Fudge and Fruit Company building. This $36 million project aims to provide older adults access to affordable housing.
HPD Celebrates Opening of Affordable Housing and New Library in Inwood
On June 26, 2024, the New York City Department of Housing Preservation and Development celebrated the grand opening of The Eliza, a new affordable building and public library, with a ribbon cutting. The Eliza, located at 4790 Broadway in Inwood, is named after Eliza Hamilton, wife of Alexander Hamilton.
City Council Approves Three Land Use Applications with Affordable Housing in Brooklyn
On May 16, 2024, the City Council voted to approve three new land use applications that will bring more affordable housing to Brooklyn.