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 … <Read More>
affordable housing
HPD Selects Development Partners for Affordable Senior Housing in Astoria
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 … <Read More>
Reducing Racial Bias Embedded in Land Use Codes
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 … <Read More>
East New York Affordable Housing Project Completes Phase 1
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 … <Read More>
City Shifts Funding to Address Urgent Affordable Housing Needs
$466 million moved back into the 2021 Fiscal Year’s capital budget. On October 22, 2020, Mayor Bill de Blasio announced the acceleration of capital funding within the City’s affordable housing plan by shifting $466 million to the current fiscal year’s capital budget to address urgent affordable housing needs. In March, the City moved $466 million from the Department of Housing Preservation and Developments Fiscal Year 2021 budget to the Fiscal Years 2022 through 2024. However, … <Read More>
UPDATED: CPC Holds Public Hearing on Manufacturing and Residential Mixed-Use Development in Brownsville
The project is a partnership between a mental health and housing non-profit and a manufacturing real estate non-profit. On October 7, 2020, the City Planning Commission held a public hearing for a mixed use-manufacturing and affordable housing development at 803 Rockaway Avenue in Brownsville, Brooklyn. The rezoning area covers nine lots on the block bounded by Riverdale Avenue to the north, Newport Avenue to the south, Rockaway Avenue to the west and Thatford Avenue to … <Read More>