On March 1, 2024, the New York City Department of Housing Prevention and Development (HPD), New York City Housing Development Corporation (HDC), and the New York State Division of Housing and Community Renewal (HCR) celebrated the groundbreaking for Stevenson Square in the Soundview section of The Bronx. The $1 billion construction project, in conjunction with Camber Property Group, will build affordable homes in furtherance of the ‘Housing Our Neighbors Blueprint’ initiative.
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COMMENTARY: Creating Social Housing in the Sky
By Assemblymember Harvey Epstein and Senator Cordell Cleare
The next innovation in the pursuit of permanently affordable housing for New Yorkers can be found amongst the glistening luxury high-rise condominiums. These high-rise condominium complexes will also include the next wave of cooperatively-owned and community-controlled affordable homeownership opportunities in New York City — social housing in the sky — if our bill, the recently updated Martin Act amendment (S3566A/A6921A), becomes law.
City Releases Details for “City of Yes for Housing Opportunity” Zoning Text Amendment
On September 21, 2023, Mayor Eric Adams released the details for his “City of Yes for Housing Opportunity” proposal. The proposal aims to increase the development of and access to affordable housing throughout New York City through changes to the City’s zoning code. The Mayor’s Office touts that the initiative could add 10,000 homes to expected housing production over the next 15 years, create 260,000 temporary and 6,300 permanent jobs, and provide $58.2 billion in … <Read More>
City Announces Plan to Convert Vacant Offices to Housing
On August 17, 2023, Mayor Eric Adams and Department of City Planning (DCP) Director Dan Garodnick took significant steps toward building critical new housing across the City by devising a plan to convert vacant offices into housing and implementing procedures to ensure the plan’s success.
HPD Announces Funding Secured to Convert Illegal Hotel to Single-Room Occupancy Units for Supportive Housing
On March 29, 2023, the Department of Housing Preservation and Development announced that $38 million in financing has been secured to change an Upper West Side illegal transient hotel into permanent supportive housing. The property, known as the Morningside Inn and located at 235 West 107th Street, was previously operated as an illegal hotel by the owner. The building will now help provide permanent housing through single occupancy units to adults facing chronic homelessness.
Mayor Reveals Task Force Recommendations to Convert Underused Office Space to Housing
On January 9, 2023, Mayor Eric Adams announced a set of recommendations from the Office Adaptive Reuse Task Force for changes to state laws and city zoning requirements to make it easier for the conversion of underused office space to housing. The COVID-19 pandemic transformed how many companies operate, transitioning to work-from-home or hybrid structures that require less office space, while the city experiences an ongoing affordable housing crisis.