NYC Financed a Record-Breaking Number of Affordable Homes in 2018 - NBC New York

NYC Financed a Record-Breaking Number of Affordable Homes in 2018

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    NYC Financed a Record-Breaking Number of Affordable Homes in 2018
    AP
    File Photo: Apartment buildings in New York City

    What to Know

    • Mayor Bill de Blasio announced Wednesday that in 2018, New York City financed 34,160 affordable homes—a new record

    • This number includes 10,099 new home constructions and 24,061 homes that were preserved

    • That brings up the total number of homes financed under the Housing New York plan to 122,000 apartments — halfway to its 300,000 goal

    Mayor Bill de Blasio announced Wednesday that in 2018, New York City financed 34,160 affordable homes—a new record.

    This number includes 10,099 new home constructions and 24,061 homes that were preserved. That brings up the total number of homes financed under the Housing New York plan to 122,000 apartments—almost halfway to its goal of 300,000 affordable homes by 2026.

    Nearly 85 percent of all homes financed through the de Blasio's housing plan are aimed at low-income New Yorkers, with more than 40 percent of these homes serving families earning less than $46,950 annually.

    “Family by family, building by building, we’re giving people the security of knowing they can stay in the city they love,” said de Blasio in a statement. “And we’re just warming up.”

    The affordable housing effort cost the city $1.73 billion.

    “Affordable housing is very much tied to workforce availability and the vibrancy of our communities,” said Assembly Member Steven Cymbrowitz, Chair of the Assembly’s Housing Committee, in a statement. “The gains we achieved in preserving and creating affordable housing in the last year make it possible for thousands of families, seniors and other New Yorkers to improve their lives and remain a vital, engaged part of our communities.”

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