Mayor Eric Adams is pitching a new plan to address New York City’s dire housing crisis — aiming to invest in new mixed-income development in wealthier neighborhoods where affordable housing is particularly scarce.
The Department of Housing Preservation and Development’s (HPD) new “Mixed-Income Market Initiative” (MIMI) plan would leverage public dollars for the development of housing that mixes both market-rate and affordable units, a departure from HPD’s typical milieu of creating purely affordable housing.
