NYC affordable housing goals

As a one-time Manhattanite, I never actually thought they’d come close to reaching the goal. I knew the city could always get the density, but the sclerotic nature of the Buildings Department (late 90s), truculent community boards, and high hard costs would seem to have been insurmountable goals. On the other hand, I did meet some folks from local CDCs who were able to build for about $100 psf. When you’re busy building high rise luxury condos at $300+ psf, $100 psf seems like a dream world.

Anyway, the Mayor and all the many contributors are to be congratulated for progress to date.

Officially known as the New Housing Marketplace Plan, the plan began in July 2003 with a 65,000-unit goal. It was expanded in 2006 to 165,000 units.

About 30 percent of the units created or preserved have been homeownership units, including single-family homes and condo units. Of the 17,109 homeownership units, there have been only three foreclosures so far, affecting a total of five units.

Affordable Housing Effort Reaches Halfway Point – City Room – Metro – New York Times Blog: “”