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.
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Comptroller Stringer Releases Plan to Address City’s Affordable Housing Problems
Universal Affordable Housing would require 25 percent permanently low-income affordable housing in all new development with ten or more units. On January 29, 2020, New York City Comptroller Scott M. Stringer announced a citywide housing strategy to fundamentally realign the City’s approach to the housing crisis. The strategy, coined Housing We Need, will include a universal requirement for 25 percent permanently low-income affordable housing in all as-of-right developments with at least ten units.
HPD Announces Financing for Nearly 800 Affordable Units in Downtown Far Rockaway
Over 1,380 new affordable apartments were added to Far Rockaway since it was rezoned in 2017. On January 15, 2020, the Department of Housing Preservation and Development announced a new plan to add 793 affordable apartments to revitalize and strengthen neighborhoods in the Downtown Far Rockway area of Queens. Units will be spread across three properties – RadRoc, Beach 21 and Rockaway Village, and will include units set aside for the formerly homeless and individuals … <Read More>
City Planning Approves Application to Convert Former Hotel Building to Affordable Housing
The conversion of the former Watchtower hotel will bring 508 residential units to DUMBO, Brooklyn. On February 19, 2020, the City Planning Commission approved an application to rezone a block in DUMBO, Brooklyn from a light manufacturing district to a mixed-use residential and commercial district. The block is bounded by High Street to the north, Sands Street to the south, Jay Street to the east, and Pearl Street to the west. The rezoning would facilitate … <Read More>
Workforce Housing Scrapped From Proposed Astoria Development
City Council Subcommittee announces modification to Mega LLC’s proposed development. On January 30, 2020 the City Council Subcommittee on Zoning and Franchises approved Mega LLC’s ULURP application to rezone Block 769 in Astoria, Queens with a modification to the Mandatory Inclusionary Housing component. The rezoning would help facilitate the construction of an 8-story, mixed-use development. Block 769 in Queens is bounded by Ditmars Avenue to the north, 23rd Avenue to the south, 46th street to … <Read More>
City Planning Hears Application for Major Development Across the Street from Essex Crossing
New development on Lower East Side set to transform the entire Broome Street corridor. On December 4, 2019, the City Planning Commission heard an application by Go Broome LLC and the Chinatown Planning Council HDFC to rezone and develop a large-scale, mixed-use development on the Lower East Side. The proposed development includes mixed-income housing, affordable senior housing, program and office space for the Chinese American Planning Council, congregation space for the landmarked Beth Hamedrash Hagodol … <Read More>