HPD Celebrates Grand Opening of 100 Percent Affordable Housing Development in Cypress Hills

The mixed-use, nine-story “50 Penn” building in Brooklyn will provide both housing and additional supports. On June 9, 2022, the Department of Housing Preservation and Development (HPD), the NYC Housing Development Corporation (HDC), developer PennRose, and the Riseboro Community Partnership celebrated the grand opening of the “50 Penn” housing development in Cypress Hills, Brooklyn. The 218-unit building addresses key priorities in the East New York Neighborhood Plan, such as affordable housing and access to … <Read More>


Zoning for Housing Opportunity Amendment Aims to Address City’s Housing Shortage

Still in its early stages, Mayor Adams’ proposed zoning text amendment aims to increase affordable housing in the city. On June 1, 2022, Mayor Adams announced his “City of Yes” plan consisting of three citywide zoning text amendments. One of these initiatives, “Zoning for Housing Opportunity,” addresses the city’s housing shortage. Although the text amendment has not yet been drafted, Mayor Adams listed four key housing proposals in his announcement.


Governor Signs Hotel Conversion Bill to Create More Opportunities for Permanent Housing

The new legislation allows hotels to house residents on a more permanent basis, specifically addressing the lack of available housing in New York City. On June 7, 2022, Governor Kathy Hochul signed into law New York State Senate Bill S4937C. This affordable housing law allows hotels that are already authorized as Class B hotels to rent rooms for permanent residence purposes. State Senator Brian Kavanagh and Assemblymember Steven Cymbrowitz sponsored this bill.


Governor Announces Beginning of Construction of New Affordable Housing Development in Wakefield

The new building will be across the street from another affordable housing development recently approved by the City Planning Commission. On May 25, 2022, Governor Kathy Hochul announced the beginning of construction for a new affordable and supportive housing development in the Wakefield section of the Bronx. The Plains will be located at 4519 White Plains Road between East 239th and East 240th Street. The development team consists of the Doe Fund and Robert Sanborn <Read More>


HPD and NYCHA Announce Deal to Construct 101 Units of Affordable Housing in the Bronx

Supportive services will be offered to all households. On September 28, 2021, the New York City Housing Authority (NYCHA) and the Department of Housing Preservation and Development (HPD) announced the finalization of a deal to bring 101 new affordable apartments to the Mott Haven neighborhood in the Bronx. The Betances Family Apartments project, located at the corner of East 146th Street and Willis Avenue on NYCHA’s Betances VI campus, will be 100 percent affordable. The <Read More>


City Finalizes Two Deals to Bring Almost 400 Affordable Senior Housing Units to the Bronx and Brooklyn

Both buildings offer a variety of enrichment opportunities and support for seniors. On July 2, 2021, the Department of Housing Preservation and Development (HPD), the New York City Housing Authority (NYCHA) and the New York City Housing Development Corporation (HDC) finalized two deals to secure 393 new affordable senior housing units to the Soundview neighborhood in the Bronx and the Bedford-Stuyvesant neighborhood in Brooklyn.