Renderings of the new co-op buildings that will be part of the Soundview campus, one of the many projects initiated by the City in 2020. Image Credit: NYCHA

The newly financed homes keep New York City on track to meet its goal to provide 300,000 affordable homes by 2026. On February 9, 2021, Mayor Bill de Blasio announced that the City financed the construction and preservation of 29,521 affordable homes in 2020. Fifty-seven percent of the affordable homes financed in 2020 will serve families of three that earn less than $52,000 per year. The city has financed over 177,000 homes through the Housing New York plan since 2014. The city has leveraged over $7.4 billion in city capital subsidy to drive a $39.4 billion investment for the five boroughs. (read more…)

Rendering of the two buildings at 1099 Webster Avenue in the Bronx. Image Credit: NYC CPC/Aufgang Architects

The buildings will bring 238 affordable units to the area. On February 3, 2021, the City Planning Commission held a public hearing for an application to build two affordable mixed-use buildings at 1099 Webster Avenue in the East Concourse section of the Bronx. The buildings will be on the west side of Webster Avenue between East 166th Street and East 167th Street. The site is currently the location of a parking lot and a former automotive repair shop. (read more…)

Mayor Bill de Blasio. Image credit: CityLand

The fund currently has $210 million in lendable proceeds. On January 21, 2021, Mayor Bill de Blasio, along with the Taskforce on Racial Inclusion & Equity, the Department of Housing Preservation and Development, the Housing Development Corporation, Enterprise Community Partners, Local Initiatives Support Corporation, and a coalition of public, private and philanthropic partners announced that the New York City Acquisition Fund (NYCAF) will exclusively serve Minority and Women-Owned Businesses (M/WBEs) and nonprofits to support affordable and supportive housing development.  (read more…)

Rendering of future senior affordable housing development at 31-07 31st Street in Astoria. Image Credit: HPD

The development is next to a subway station and local retail and grocery stores. On January 13, 2021, the New York City Department of Housing Preservation and Development announced the development team for an affordable senior housing development at 31-07 31st Street in Astoria, Queens. The development will be mixed-use, with 100 percent affordable housing for seniors, a community center and commercial space. The site is currently a city-owned parking lot for the Department of Transportation.  (read more…)

Even though the Supreme Court struck down race-based land use controls over a hundred years ago in Buchanan v. Warley, 245 U.S. 60 (1917) it has long been known that zoning continues to create or increase racial and economic segregation. Today communities across the U.S. are reexamining their zoning regulations to create more equal, equitable, inclusive, and resilient communities by removing requirements, limitations, or prohibitions that disproportionately and negatively impact individuals based on race or class. (read more…)

The Fountains. Image Credit: NYC HPD

Project will result in 1,163 affordable homes. On October 20, 2020 Governor Andrew M. Cuomo announced the completion of the initial phase of the Fountains of Brooklyn project that is being constructed on the site of the State’s former Brooklyn Developmental Center in East New York, which closed in 2015. This project is a 6.7-acre mixed-use complex that will ultimately offer 1,163 affordable homes. The first two completed buildings of the project will include 332 affordable apartments and supportive services for individuals with intellectual and development disabilities so these individuals can live independently. (read more…)