On February 8, 2024, the Department of Housing Preservation and Development announced the initial results of the latest New York City Housing and Vacancy Survey (NYCHVS). The survey is the official source of the net rental vacancy rate which is used to show the ongoing need for rent control and rent stabilization. The survey is run approximately every three years and done in partnership with the U.S. Census Bureau since 1965. It is the longest-running … <Read More>
By Assemblymember Harvey Epstein and Senator Cordell Cleare
The next innovation in the pursuit of permanently affordable housing for New Yorkers can be found amongst the glistening luxury high-rise condominiums. These high-rise condominium complexes will also include the next wave of cooperatively-owned and community-controlled affordable homeownership opportunities in New York City — social housing in the sky — if our bill, the recently updated Martin Act amendment (S3566A/A6921A), becomes law.
On January 31, 2024, the New York City Department of Housing Preservation and Development (HPD) announced that Apex Building Group and Bridge Street Development Corporation will be building 116 homes for low-income families at 516 Bergen Street in Prospect Heights, Brooklyn. The announcement comes in light of Mayor Adams’ push for affordable housing advancements on publicly owned land. Mayor Adam’s 24 in 24 plan is seeking to create or preserve around 12,000 units of housing … <Read More>
On January 29, 2024, the Department of Housing Preservation and Development began a month-long effort to advance affordable housing projects on public sites citywide as part of Mayor Eric Adams’ “24 in 24” plan. The plan, announced in his State of the City address, aims to advance 24 affordable housing projects on public sites in 2024 to create or preserve over 12,000 affordable units. The first site is currently an unused city-owned parking lot on … <Read More>
On November 29, 2023, the Department of Housing Preservation and Development, the New York City Housing Development Corporation, and the New York City Economic Development Corporation joined the development team to celebrate the groundbreaking of the next phase of the Peninsula, a 100 percent affordable housing mixed-use campus in the Hunts Point section of the Bronx. The development team included Gilbane Development Company, Hudson Companies, MHANY Management Inc, and Wells Fargo.