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…)

Co-Op City, Bronx. Image Credit: NYC HPD

The City has now produced more than 164,000 units or more than 50 percent of the Mayor’s Housing plan to create 300,000 affordable homes by 2026. On April 3, 2020, Housing Preservation and Development announced the preservation of 16,083 affordable homes for New Yorkers. (more…)

The vacant lot and future site of the Stapleton Site A project. Image Credit: NYC HPD.

The project is in the area of the Bay Street Corridor Plan. On October 13, 2021, the Department of Housing Preservation and Development announced the development team for the Stapleton Site A project. The city-owned site located south of Hannah Street in Stapleton, Staten Island, will be transformed into a mixed-use development with 100 percent affordable housing. The site is currently a vacant lot. (more…)

Homeowner Cathie Wright-Lewis received a $50,000 no-interest, forgivable loan through the HomeFix program to make critical repairs to her Canarsie home. Image Credit: NYC HPD

The HomeFix project helps to provide affordable financing and loans in order to help family homeowners make necessary repairs. On May 10, 2021, the New York City Department of Housing Preservation and Development announced the first rehabilitation project completed by the HomeFix project. The HomeFix project is a program that provides affordable financing for essential home repairs in small family-owned properties located across New York City. (more…)