New York City added more than 20,000 affordable housing units during the city’s 2015 fiscal year, the highest single-year gain in 25 years.
That quantity of apartments could house 50,000 New Yorkers, according to the mayor’s office, which aims to create 200,000 homes for financially struggling city residents over 10 years.
Included in the tally, which Mayor Bill De Blasio announced from a Bronx construction site, are 8,483 units under construction and 11,842 undergoing “preservation.” The bulk of the apartments — 14,116 — are designated for low-income residents earning between $38,851 and $62,150 a year, while others will house tenants with incomes ranging from “extremely low” to “middle.”
De Blasio’s next step is to reveal his plans for a mandatory affordable housing program, which will involve a new land use process in September. Under the program, developers will be required to build a minimum number of permanently affordable units. De Blasio is expected to announce that percentage in September.
Under former Mayor Michael Bloomberg, that percentage was 20%, and the program was voluntary.