On July 22, 2024, New York City Mayor Eric Adams, New York Governor Kathy Hochul, and New York City Comptroller Brad Lander announced a $500 million agreement between Mayor Adams, The Battery Park City Authority (BPCA), and Comptroller Lander. The $500 million agreement involves BPCA providing $500 million in excess operating funds to New York City’s Affordable Housing Accelerator Fund to provide New Yorkers improved access to housing by building more affordable housing.
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Governor Reveals Proposal for Affordable Housing Transformation of Former Bayview Correctional Facility Site
On July 22, 2024, Governor Kathy Hochul announced the proposal for Liberty Landing, a project to convert the former Bayview Correctional Facility in the Chelsea neighborhood of Manhattan into a multi-faceted community hub. The hub would include a community facility unit and an affordable housing residence.
HPD Celebrates Opening of Senior Affordable Housing in Brooklyn
On July 3, 2024, the New York City Department of Housing Preservation and Development and IMPACCT Brooklyn celebrated the grand opening of 811 Lexington Avenue Senior Residences in Bedford-Stuyvesant, Brooklyn. This building replaced the Mars Fudge and Fruit Company building. This $36 million project aims to provide older adults access to affordable housing.
HPD Celebrates Opening of Affordable Housing and New Library in Inwood
On June 26, 2024, the New York City Department of Housing Preservation and Development celebrated the grand opening of The Eliza, a new affordable building and public library, with a ribbon cutting. The Eliza, located at 4790 Broadway in Inwood, is named after Eliza Hamilton, wife of Alexander Hamilton.
City Council Approves Three Land Use Applications with Affordable Housing in Brooklyn
On May 16, 2024, the City Council voted to approve three new land use applications that will bring more affordable housing to Brooklyn.
Proposed City of Yes for Housing Opportunity Amendment to Help Faith-Based Orgs Build Affordable Housing
On March 22, 2024, Mayor Eric Adams announced details about the plan to assist faith-based organizations and other mission-based nonprofits to build affordable housing citywide. As part of the City of Yes for Housing Opportunity plan, the administration’s third proposed zoning text changes that will remove outdated and arbitrary language from the zoning text that will allow for the creation of more housing.