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>
Search Results for: Affordable Senior Housing
City of Yes for Housing Opportunity Overview: City Celebrates Start of Public Review Process
On April 29, 2024, the City Planning Commission launched the public review process for the proposed City of Yes for Housing Opportunity text amendment. The text amendment is one of three City of Yes amendments aiming to remove or modify outdated provisions within the zoning text that inhibit economic growth, the ability for developers to build, and the implementation of green technology and infrastructure.
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.
HPD Announces Conversion of Former JFK Hotel to Affordable and Supportive Housing
On December 18, 2023, the Department of Housing Preservation and Development and project partners announced a plan to transform the former JFK Hilton Hotel into permanently affordable housing. The project, Baisley Pond Park Residence, will provide housing for low-income and formerly homeless New Yorkers in South Jamaica, Queens.
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>