City Agrees to $500 Million Investment to Build and Preserve Affordable Housing

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.



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.




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the City of Yes for Housing Opportunity plan, the administration’s third proposed zoning text changes that will remove outdated and arbitrary language from the zoning text that will allow for the creation of more housing.