July 16, 2017
New York City’s building boom isn’t just for luxury condos. In the three years since the start of 2014, New York City has partnered with private developers and financed plans to create or preserve 77,651 affordable homes.
“We are delivering affordable housing on a scale that hasn’t been seen since the Koch era,” said Maria Torres-Springer, Commissioner of the City’s Dept. of Housing Preservation and Development.
The City’s 10-year plan to create or preserve 200,000 homes has set off the biggest three-year streak of affordable housing production in the City’s history. The 77,651 units financed include 52,000 existing homes protected from rent increases, and 25,000 new housing units under construction since 2014. That’s reportedly enough units to house the entire population of Salt Lake City.
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