The Northeastern Tower Annex. Image Credit: HPD

The building provides much needed affordable housing for seniors. On July 21, 2021, the Department of Housing Preservation and Development (HPD), other City and elected officials, community leaders and others participated in a ribbon-cutting ceremony for Northeastern Towers Annex at 161-11 132nd Avenue in Jamaica, Queens. Northeastern Towers Annex is a 159 affordable-unit development for seniors.  (read more…)

Rendering of the Atrium, one of the two new senior affordable housing developments recently secured by NYCHA, HPD and HDC. Image Credit: HDP

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. (read more…)

NYLS student leaders hold a Q&A with NYC Mayoral candidate Andrew Yang.

On Wednesday April 28, 2021, New York Law School hosted a Q&A session for NYLS student leaders with NYC Mayoral Candidate Andrew Yang. Dean Anthony Crowell provided welcoming remarks. (read more…)

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…)