52,000 homes protected, 25,000 under construction since 2014-enough to house the entire population of Salt Lake City; one-third of all homes serve families making under $43,000 and record number for formerly homeless families
NEW YORK—Mayor Bill de Blasio recently announced that his administration secured 24,293 affordable apartments and homes in Fiscal Year 2017, the highest overall production since 1989. The 10-year Housing New York plan to create or preserve 200,000 homes has financed a total of 77,651 affordable homes since January 2014, including the highest three-year streak of affordable housing production in the City’s history.
New Yorkers can apply for affordable housing at nyc.gov/housingconnect or by calling 311.
“Affordability is the key to protecting New York families, stabilizing our neighborhoods and the city as a whole. By making smart investments we are stretching public funds and creating more and better homes for New Yorkers, from formerly homeless families to seniors, firefighters, police officers and teachers. We have more work to do, but this city is for New Yorkers – and we will keep it that way,” Mayor Bill de Blasio said.
Of the 24,293 homes financed this past Fiscal Year, which ended June 30, more than 40 percent are for families earning less than $43,000 a year, including more than 4,014 homes for families of three earning less than $26,000 a year.
Under new programs created by the City’s Department of Housing Preservation and Development and Housing Development Corporation, this past Fiscal Year saw the highest production of homes for formerly homeless families in New York’s history: 2,571. That beats the record set in Fiscal Year 2016: 1,907 homes. The HNY total is 6,533. Affordable homes typically require individuals or families to pay 30% of their income on rent.
With 4,627 affordable senior apartments financed under HNY, the City is nearly a third of the way towards its goal of creating 15,000 homes for seniors, many of who are living on fixed incomes. The 929 homes created in Fiscal Year 2017 include the first projects to benefit from the City’s Zoning for Quality and Affordability amendment, which makes it easier and less expensive to build quality, affordable senior housing citywide.
HNY numbers are available here.
Helpful links for tenants and landlords interested in finding out more about HPD programs are available here, here and here, with further information below.
On budget and ahead of schedule, the 77,651 affordable homes and apartments started under HNY include the highest total production in any three-year period in HPD’s history. One-third of all affordable housing financed will reach New Yorkers making less than $33,400 for an individual or $43,000 for a family of three. Of these 24,782 homes, 50 percent are for New Yorkers making less than $20,000 for an individual or $25,800 for a family of three.
Fiscal Year 2017 saw the financing of 7,705 new apartments and 16,588 preserved homes. This represents a direct investment of $1 billion by the City of New York, which leveraged more than $1.3 billion in bonds issued by the Housing Development Corporation during Fiscal Year 2017. This brings total direct City investment under the housing plan to $2.8 billion, and total bond financing to $5.5 billion.
Earlier this year, Mayor de Blasio committed an additional $1.9 billion in City subsidy to ensure that 50,000 affordable homes, one quarter of the HNY total, will be for the lowest-income New Yorkers, with particular commitments for seniors and veterans. By adding a mix of incentives and requirements to its programs, HPD is working to put the new funds to work as quickly and efficiently as possible.
“Through the 77,651 units financed to date under Housing New York, we are delivering affordable housing on a scale that hasn’t been seen since the Koch era,” said Housing Preservation and Development Commissioner Maria Torres-Springer. “More importantly, we are reaching more of the city’s lowest-income families, making good on our commitment to reach far deeper levels of affordability. While much of the emphasis is on numbers, at its heart, the housing plan is about people. Each affordable unit we finance is a home – for working families, seniors struggling on fixed incomes, and New Yorkers facing rising rents across our neighborhoods. Their individual stories and very real needs are what motivates us at HPD to do more and better, and to fight for the resources we need to shape a more affordable, inclusive city for generations to come.”
The Mayor visited the Crencher family at Strivers Plaza, a new eight-story, Central Harlem development that serves 54 New Yorkers at a range of incomes, including individuals earning as little as $27,000 a year and families of three earning $35,000. There is a NYC FRESH supermarket opening on the ground floor, and community space for Street Corner Resources, a Harlem-based not-for-profit organization dedicated to reducing gun violence and gang activity.
“Our new home is just what the doctor ordered. It’s clean, beautiful and offers me and my family the stability we need to live and work in the city we love,” said Matthew Crencher, who recently moved into a new, two-bedroom affordable apartment with his wife and uncle.
Some projects financed this past Fiscal Year:
Bronx: Bronx Commons, a mixed-used development in Melrose, combines 305 affordable apartments with retail space and a 300-seat music- and arts-centered community hub, the Bronx Music Hall. The homes will serve households with incomes as low as 20,040 for an individual and $25,770 for a family of three.
Brooklyn: Ingersoll Senior Residences is a 17-story, affordable senior housing project on NYCHA land at the Ingersoll Houses campus in Fort Greene. The 145 new homes will be for low-income seniors supported by Section 8 rental subsidy. Services and Advocacy for LGBT Elders (SAGE) will operate a senior center on the ground floor.
Manhattan: The affordability of 506 affordable homes in 39 East Harlem buildings, collectively known as Hope East of Fifth, will be preserved for families earning as little as $33,400 or $42,950 for a family of three. The buildings and apartments will see needed improvements. More than 100 units are set-aside for homeless households.
Queens: One Flushing will create 208 new affordable homes for individuals earning as little as $20,040 and $25,770 for a family of three. The project, on City-owned land, was formerly a parking lot. The project provides supportive services for 66 seniors and a rooftop farm.
Staten Island: 35 homeowners with incomes as low as $42,950 received support through various HPD programs to provide down payment assistance or home repair loans to low-income and senior homeowners.
Beyond the numbers:
Most housing for the homeless: Last Fiscal Year saw the highest production of housing for the city’s homeless, with 2,571 homeless units financed. The second highest year was Fiscal Year 2016, with 1,907 homeless units, bringing the total number of apartments for homeless New Yorkers produced under the plan to 6,533 apartments. This progress reflects the requirement of homeless set-asides in the majority of HPD’s affordable housing programs, and new initiatives such as Our Space that provide additional capital subsidy to create a reserve to fund units affordable to homeless households without relying on rental assistance.
First MIH units: The City financed its first 400 units under the City’s new Mandatory Inclusionary Housing program, which requires developers to build permanently affordable housing in areas rezoned for growth. Since MIH was adopted, 18 applications for approximately 6,800 homes – about 5,000 of them affordable – have been approved by the City Council. At least 1,700 of them will be permanently affordable.
Enhancing preservation outreach: To further expand the City’s outreach to owners and landlords, last month HPD launched the Landlord Ambassadors program to select community-based nonprofits to help owners of small- and mid-sized multifamily buildings take advantage of HPD’s affordable housing initiatives. Organizations will be provided with the training and funds to hire staff as they work with landlords to stabilize and upgrade buildings, including those on the City’s tax lien docket. A new preservation marketing campaign is also now underway, building on the outreach that HPD made in the last year to the owners of more than 12,400 properties across the city to make them aware of the agency's various loan programs.
Improving access to affordable housing: Through funding from the City Council, HPD expanded its Housing Ambassadors program, and produced a video to help New Yorkers prepare and apply for affordable housing. HPD and the City’s Office of Financial Empowerment also launched the Ready to Rent program. This program works in partnership with the financial counseling provider Ariva and offers free one-on-one financial counseling and additional assistance to those seeking affordable housing.
Record Affordable homeownership: The City achieved the highest number of affordable homeownership units in over a decade with 5,827 affordable homes, bringing the total financed under the housing plan to almost 10,000. This includes the preservation of critical Mitchell-Lama developments that provide an anchor of affordability in key neighborhoods across the city, and is in addition to the many efforts underway to work with homeowners to provide counseling, pursue mortgage modification or refinancing, or reposition foreclosed homes as affordable homeownership opportunities, especially to support neighborhoods continuing to struggle in the aftermath of the foreclosure crisis.
Job opportunities: Approximately twenty projects set M/WBE goals for the first time under the City’s new M/WBE Build Up program, which requires developers receiving more than $2 million in contribution from the City to set and meet M/WBE goals. Through this program we expect greater inclusion of M/WBEs over the course of design and construction of our development projects. And through HireNYC, the City is expanding access to jobs on affordable housing projects receiving more than $2 million in City subsidy. Last fiscal year, HPD closed 51 projects, including almost 9,000 units that require participation in HireNYC.