Search Results for: Affordable Housing

City Announces Start of Construction for 103 Affordable Unit Development in Mount Hope

The $55 million mixed-use development in Mount Hope will house 103 low-income and formerly homeless New Yorkers. On July 20, 2022, NYC Mayor Eric Adams and New York Governor Kathy Hochul announced the beginning of construction on an affordable housing development in Mount Hope, Bronx. The new building will be adjacent to the existing Mount Hope Community Center on Walton Avenue.

Governor Signs Legislation Establishing Public Housing Preservation Trust for NYCHA

The trust allows NYCHA to access new streams of revenue to help fund the renovations of 25,000 apartments. On Thursday, June 16th, 2022, Governor Kathy Hochul signed legislation which created the New York City Public Housing Preservation Trust. The Trust will give the New York City Housing Authority (NYCHA) access to new streams of revenue and will allow for necessary repairs to 25,000 apartments in NYCHA developments. These repairs have been deferred due to a … <Read More>

Mayor Eric Adams Releases Blueprint for Housing and Homelessness

Mayor Adams Addresses the Issue of Affordable Housing and Works Towards Building More Affordable Housing. On June 14, 2022, Mayor Eric Adams released Housing Our Neighbors: A Blueprint for Housing and Homelessness, his administration’s plan to address New York City’s affordable housing crisis. The Blueprint discusses making the City a welcoming and homely place where people can stay and grow together as a family by creating housing that is available and affordable for people … <Read More>

Zoning for Housing Opportunity Amendment Aims to Address City’s Housing Shortage

Still in its early stages, Mayor Adams’ proposed zoning text amendment aims to increase affordable housing in the city. On June 1, 2022, Mayor Adams announced his “City of Yes” plan consisting of three citywide zoning text amendments. One of these initiatives, “Zoning for Housing Opportunity,” addresses the city’s housing shortage. Although the text amendment has not yet been drafted, Mayor Adams listed four key housing proposals in his announcement.

Governor Signs Hotel Conversion Bill to Create More Opportunities for Permanent Housing

The new legislation allows hotels to house residents on a more permanent basis, specifically addressing the lack of available housing in New York City. On June 7, 2022, Governor Kathy Hochul signed into law New York State Senate Bill S4937C. This affordable housing law allows hotels that are already authorized as Class B hotels to rent rooms for permanent residence purposes. State Senator Brian Kavanagh and Assemblymember Steven Cymbrowitz sponsored this bill.