On April 17, 2024, the New York City Department of Environmental Protection (DEP) and the Trust for Public Land (TPL) announced that construction has commenced on the five new Green Infrastructure playgrounds at schools in Queens, Manhattan, Brooklyn, and the Bronx. The playgrounds are designed to absorb more than 3.5 million gallons of stormwater every year to curb runoff that floods nearby streets and overwhelms local sewer systems in addition to polluting the East River.
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State Comptroller Calls for Better Monitoring and Reporting on NYC Capital Projects
On April 5, 2024, State Comptroller Thomas P. DiNapoli released a report about monitoring of New York City’s capital projects. His report found that projects often run over the initial budget and past the estimated timeline, suggesting that better monitoring could save City resources.
Governor Announces Funding for Almost 1,100 Affordable Homes Statewide, Including Brooklyn and the Bronx
On April 8, 2024, Governor Kathy Hochul announced $412 million in bonds and subsidies to create and preserve nearly 1,100 affordable homes statewide, including four projects in the Bronx and Brooklyn. The awards are part of the Governor’s five-year $25 billion housing plan to preserve or create 100,000 affordable homes statewide with 10,000 supportive homes.
Council Votes to Approve Timbale Terrace Project in East Harlem
On March 7, 2024, the City Council voted to approve the Timbale Terrace project in East Harlem. The 19-story mixed-use building, located at 101 East 118th Street, will have 340 affordable units and feature a performance arts center.
City Launches $50 Million Initiative for Minority-Business Enterprise Developers to Work on Affordable Housing
On March 4, 2024, New York City Mayor Eric Adams, the New York City Housing Preservation Development (HPD) Commissioner Adolfo Carrión Jr., and New York City Housing Development Corporation (HDC) President Eric Enderlin announced an initiative to provide up to $50 million to help Minority Business Enterprises (MBE) overcome financial barriers and participate in developing much needed affordable housing for New Yorkers. The “New York City Minority Business Enterprise Guaranty Facility” is established in partnership … <Read More>
Mayor, Governor, and Port Authority Agreement to Support Port Authority Bus Terminal Replacement
On March 12, 2024, Mayor Eric Adams, Governor Kathy Hochul, and the Port Authority of New York and New Jersey announced a deal to support the replacement and expansion of the Port Authority Bus Terminal in Midtown. The 73-year-old facility currently serves over 200,000 people on an average weekday, but struggles to meet current needs. The replacement is expected to meet 2040-2050 commuter growth.