The Northeastern Tower Annex. Image Credit: HPD

The building provides much needed affordable housing for seniors. On July 21, 2021, the Department of Housing Preservation and Development (HPD), other City and elected officials, community leaders and others participated in a ribbon-cutting ceremony for Northeastern Towers Annex at 161-11 132nd Avenue in Jamaica, Queens. Northeastern Towers Annex is a 159 affordable-unit development for seniors.  (more…)

Rendering of the Eliza. Image Credit: HPD

The new Eliza project will bring 174 affordable homes and a state-of-the-art public library to the Inwood community. On June 10, 2021, the Department of Housing Preservation and Development announced the Eliza, a mixed use development featuring affordable housing and a public library, and education space, located at 4790 Broadway in Inwood. The project has been fully financed and is moving forward. (more…)

The development team and agency officials break ground on Compass Six in West Farms. Image Credit: NYC HPD

The new affordable housing development will house 261 low-income and formerly homeless  families. On March 19, 2021, Mayor de Blasio and the Department of Housing Preservation and Development announced the groundbreaking of a new affordable housing building in the West Farms section of the Bronx. The building, named Compass Six, is located at 1923 West Farms Road. Compass Six is part of the Compass Resident Development, which will consist of eight buildings and be one of the largest-scale affordable housing developments in the area once completed. The groundbreaking of Compass Six marks the beginning of the final phase of development for the Compass Residence project. (more…)

Image Credit: NYC HPD

The newly revised design guidelines will promote equity, health, and sustainability for affordable housing. On March 4, 2021, the Department of Housing Preservation and Development released newly revised design guidelines for affordable housing. The COVID-19 pandemic led the Department of Housing Preservation and Development to have stronger requirements to improve the standard of living, promote public health, and reduce the carbon footprint of New York City. (more…)

Mayor Bill de Blasio. Image credit: CityLand

$466 million moved back into the 2021 Fiscal Year’s capital budget. On October 22, 2020, Mayor Bill de Blasio announced the acceleration of capital funding within the City’s affordable housing plan by shifting $466 million to the current fiscal year’s capital budget to address urgent affordable housing needs. In March, the City moved $466 million from the Department of Housing Preservation and Developments Fiscal Year 2021 budget to the Fiscal Years 2022 through 2024. However, following the COVID-19 pandemic and the need to support the ongoing recovery efforts, the Department moved these funds back to Fiscal Year 2021. After this shift, the City would have invested $1.4 billion in affordable housing this year. This funding acceleration keeps the Housing New York project on track to create and preserve 300,000 affordable homes by 2026. (more…)