Investigation uncovers HPD’s 13 years of failing to enforce housing program requirements against developers and depriving the City of affordable housing and resources. On February 29, 2016, New York City Public Advocate Letitia James released a report on an investigation conducted by her office into 26 residential properties in Brooklyn. The 26 properties had been given to a nonprofit developer to be rehabilitated and resold, subject to affordable housing income restrictions, as part of the … <Read More>
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Mayor de Blasio Announces Progress on Affordable Housing Plan
17,300 units of affordable housing were created or preserved in 2014. On January 15, 2015, Mayor Bill de Blasio held a press conference to announce the financing of over 17,300 units of affordable housing during 2014. These units, 11,185 preserved and 6,191 of new construction, were financed as a part of the Mayor’s Housing New York plan to preserve and build 200,000 units of affordable housing by the end of Fiscal Year 2024. According to … <Read More>
New inclusionary zoning yields 536 units
HPD reports that an additional 1,139 affordable units are in the pipeline. At the Trends in New York City Land Use and Development forum co-hosted by the Center for New York City Law, HPD reported a total of 536 affordable units in construction and an added 1,139 units in the application phase as a result of the expanded inclusionary housing provisions.
The inclusionary housing provisions allow developers to increase the floor area of a development … <Read More>