Image Credit: NYC HPD

On May 17, 2022, the Department of Housing Preservation and Development (HPD) released some initial results of the 2021 New York City Housing and Vacancy Survey. The survey is the official source of the city’s net rental vacancy rate, which is used to determine the continued need for rent stabilization. From its start in 1965, the survey is the longest running housing survey in the United States.  (more…)

Render of the modular housing to be constructed to provide affordable homeownership opportunities in Southeast Queens. Image Credit: HPD.

On March 9, 2022, Mayor Eric Adams announced updates to two infrastructure and affordable housing projects in Southeast Queens.  (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…)

Renderings of Timbale Terrace (left) and the East Harlem Multi-Service Center/Beacon site (right). Image Credit: HPD

The two developments will have almost 600 affordable units between them. On August 13, 2021, the New York City Department of Housing Development and Preservation (HPD) announced its plan to develop nearly 600 affordable homes, a new Afro-Latin Music and Arts (ALMA) Center and to renovate the East Harlem Multi-Service Center in East Harlem. The project will include two mixed-use developments, located at 413 East 120^th Street and at the former 25^th Precinct parking lot on Park Avenue between East 118^th and East 119^th Streets. (more…)

Image Credit: NYC HPD

The addition of over 25,000 affordable homes brings the City’s total affordable homes financed since 2014 to over 147,000. On February 3, 2020, the Department of Housing Preservation and Development announced that the City financed 25,889 homes in 2019. Of this number, 15,692 affordable homes were preserved and another 10,197 new affordable homes were financed. (more…)