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. 


HPD, HDC, HCR Celebrate Groundbreaking for Stevenson Square Project to Bring 1000 Affordable Units to the Bronx

On March 1, 2024, the New York City Department of Housing Prevention and Development (HPD), New York City Housing Development Corporation (HDC), and the New York State Division of Housing and Community Renewal (HCR) celebrated the groundbreaking for Stevenson Square in the Soundview section of The Bronx. The $1 billion construction project, in conjunction with Camber Property Group, will build affordable homes in furtherance of the ‘Housing Our Neighbors Blueprint’ initiative.


City Planning Commission Votes to Approve City of Yes for Economic Opportunity Amendment

On March 6, 2024, the City Planning Commission voted to approve the City of Yes for Economic Opportunity zoning text amendment. The amendment, the second of Mayor Eric Adams’ three City of Yes proposals, is a collection of eighteen changes to the zoning text designed to remove obstacles for small businesses looking to expand and create more vibrant streetscapes.