Mayor Bill de Blasio along with administration officials from the city’s Department of Housing Preservation (HPD) and the Housing Development Corporation (HDC) today announced that the city secured 28,310 affordable homes through new construction and preservation deals in Fiscal Year 2021 (FY21).
That figure includes a record-breaking 11,322 new affordable homes, 64% of which are affordable for families of three earning less than $53,000. The City also created nearly 3,300 units for seniors, and nearly 2,800 units formerly homeless New Yorkers – both records for this administration.
Your Home NYC, Mayor de Blasio’s housing plan, remains on track to creating and preserving 200,000 affordable homes by the end of the administration and 300,000 affordable homes by 2026.
De Blasio made the announcement at the Bronx Commons, a 305-unit affordable housing development that combines deeply affordable housing with a dynamic new music hall, pre-school, and other retail and recreational space.
“By the end of this administration, we will reach 200,000 affordable apartments for the people of New York City,” said de Blasio. “More than ever, we will also serve seniors and formerly homeless New Yorkers. Buildings like Bronx Commons – 100 percent affordable, with 305 apartments fully leased and placemaking amenities like pre-school and a music hall – are going to make a difference for New Yorkers everywhere. There’s no stopping the Bronx, and there’s no stopping New York City.”
The City’s housing plan focuses on projects that serve the most vulnerable New Yorkers; sets new standards for healthy, equitable homes; brings community assets to underserved neighborhoods; supports Minority- and Women-Owned Business Enterprises (M/WBEs) and non-profits; and promotes affordable ownership opportunities that help build wealth across generations.
“I commend the City for making progress in its commitment to our most vulnerable residents and for demonstrating that the construction of affordable housing can be a meaningful part of our post-pandemic recovery process,” said Assemblymember Steven Cymbrowitz (D-Brooklyn), Chair of the Assembly Housing Committee
There are five notable projects financed in the 2021 Fiscal Year. The first being Casa Celina and Atrium, two affordable 100% senior housing projects that will be built on NYCHA land in Brooklyn. Sendero Verde is another project that will be a mixed-use development that promises more than 700 units of affordable housing in East Harlem.
The third project, Atlantic Chestnut is a multi-phase development in East New York that will create 1,167 affordable homes when completed.
The last two projects are both Mitchell-Lama, which is a program that provides affordable rental and cooperative housing to moderate and middle-income families. Riverbend is a 626-unit Mitchell-Lama co-op for low to middle-income New Yorkers in Harlem. The fifth and final project is Rochdale Village, which is also a Mitchell-Lama made up of 5,860 affordable co-ops in Queens.
“As we emerge from this pandemic, our City must continue to secure affordable homes for all New Yorkers, especially low-income families, seniors, and those experiencing homelessness,” said City Council Member Adrienne Adams (D-Queens).
Part of the plan is to prioritize Minority and Women-Owned Business Enterprises (MWBE) by expanding access to ownership opportunities.
“I am delighted by the newly expanded access to financing, ownership opportunities, and capacity building for minority- and women-owned businesses. Minority neighborhoods need small businesses owned by and responsive to their communities,” said City Council Member Robert E. Cornegy Jr. (D-Brooklyn).
The construction of affordable housing comes under Mayor de Blasio’s Your Home NYC, a plan to create 300,000 affordable housing units by 2026.
“If it weren’t already clear that housing is a human right integral to public health, the past year has undeniably made it so. As we continue to pursue an equitable pandemic recovery, I applaud the administration on this record-breaking year for new construction on affordable homes,” said City Council Member Carlina Rivera (D-Manhattan).
“This is one important step to address the housing crisis that New Yorkers have been facing for far too long. Bringing thousands of homes to Queens and throughout New York City is about making this city a place that protects its families and seniors, supports people without housing or formerly homeless, and promotes healthier and financially sustainable communities,” said City Council Member Francisco Moya (D-Queens), Chair of the Subcommittee on Zoning and Franchises.
A complete summary of FY21 numbers is available here.