On March 7, 2024, the City Council voted to approve the Timbale Terrace project in East Harlem. The 19-story mixed-use building, located at 101 East 118th Street, will have 340 affordable units and feature a performance arts center.
affordable housing
HPD Announces Historically Low Rental Vacancy Rate
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>
COMMENTARY: Creating Social Housing in the Sky
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.
HPD Announces Bergen Green Affordable Housing Project in Latest 24 in 24 Push
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>
HPD Launches Month-Long Affordable Housing Push with Over 500 Units Planned at Inwood Waterfront Site
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>