New York State Assembly Housing Committee Chair Keith Wright Proposes Bill to Subsidize Affordable and Senior Housing

The bill seeks to fill the gap left open by the expiration of 421-a, the decades-old tax exemption program that expired on January 1, 2016.  On March 15, 2016, New York State Assembly Housing Committee Chair Keith Wright, who represents Manhattan, introduced Assembly bill A9537, which would provide for new, taxpayer-funded affordable housing subsidies and job training programs. If enacted, the bill would incentivize the construction of affordable housing and affordable senior housing through subsidies, … <Read More>


City Launches $50 Million Initiative for Minority-Business Enterprise Developers to Work on Affordable Housing

On March 4, 2024, New York City Mayor Eric Adams, the New York City Housing Preservation Development (HPD) Commissioner Adolfo Carrión Jr., and New York City Housing Development Corporation (HDC) President Eric Enderlin announced an initiative to provide up to $50 million to help Minority Business Enterprises (MBE) overcome financial barriers and participate in developing much needed affordable housing for New Yorkers. The “New York City Minority Business Enterprise Guaranty Facility” is established in partnership … <Read More>


HPD, HDC, HCR Celebrate Groundbreaking for Stevenson Square Project to Bring 1000 Affordable Units to the Bronx

On March 1, 2024, the New York City Department of Housing Prevention and Development (HPD), New York City Housing Development Corporation (HDC), and the New York State Division of Housing and Community Renewal (HCR) celebrated the groundbreaking for Stevenson Square in the Soundview section of The Bronx. The $1 billion construction project, in conjunction with Camber Property Group, will build affordable homes in furtherance of the ‘Housing Our Neighbors Blueprint’ initiative.



City Releases Details for “City of Yes for Housing Opportunity” Zoning Text Amendment

On September 21, 2023, Mayor Eric Adams released the details for his “City of Yes for Housing Opportunity” proposal. The proposal aims to increase the development of and access to affordable housing throughout New York City through changes to the City’s zoning code. The Mayor’s Office touts that the initiative could add 10,000 homes to expected housing production over the next 15 years, create 260,000 temporary and 6,300 permanent jobs, and provide $58.2 billion in … <Read More>


City Reveals Atlantic Avenue Mixed-Use Plan to Bring Affordable Housing and Open Space to Central Brooklyn

On September 7, 2023, the New York City Mayor’s Office and New York City Department of City Planning released plans for new affordable senior homes and a revamp of St. Andrew’s Playground in Central Brooklyn. The departments’ objective was to further their ‘Atlantic Avenue Mixed-Use Plan’ by building in a zone of Brooklyn that has been stifled by restrictive zoning regulations.