Investment Priority 4:

Support growth and preserve affordability in our diverse neighborhoods

We will continue to invest in housing for low - and moderate - income New Yorkers. The City will also continue to invest in the infrastructure necessary to support growing neighborhoods, such as parks, community facilities, schools, sewers, and streets, to underpin their attractiveness as places to live and work.

Providing affordable housing for low- and moderate-income new yorkers

We are investing in the construction and preservation of affordable housing to ensure that low- and moderate-income New Yorkers have access to stable and quality housing. Housing that costs about 30% or less of what people living in an area earn is considered affordable. Income bands like ‘low’ and ‘moderate’ are determined by the area median income of the New York City region, which factors in income and family size.

The economic impact of the COVID-19 pandemic has exacerbated the need for affordable housing due to losses in employment and wages. This compounded an existing affordability crisis before the pandemic, caused by a shortage of housing options and limited wage growth.

Over the next 10 years, we will continue to invest in strategies that preserve existing affordable housing units, create new affordable units, and modernize the existing housing stock. This will be achieved in part through the Housing New York Plan. Since 2014, the Plan has spurred the preservation and construction of 25,000 affordable homes per year and is expected to reach its goal of 200,000 affordable homes by 2022. In Fall 2017, the plan was updated, and Housing NY 2.0 was released with the aim of generating an additional 100,000 affordable homes by 2026. This extended plan focuses on five key areas: a) ensure there is more affordable housing for seniors; b) introduce homeownership programs; c) develop anti-displacement programs to protect existing affordability; d) pursue innovative construction methods for new housing; and e) unlock the potential of City-owned vacant lots that can be redeveloped for housing. Additionally, the City is making complementary investments in parks, streets, schools, and other infrastructure in areas with significant increase in residential development.

The City is also committed to investing in its public housing stock. NYCHA’s Blueprint for Change sets forth a strategy to meet capital needs and create healthier homes for public housing residents. The strategy includes the agency’s first-ever portfolio wide capital investment plan, which will address critical issues like heating and elevators, and lead abatement.

We are also working to promote equitable housing growth that ensures that low-income New Yorkers can choose housing based on factors important to them, such as access to transit, schools, and job centers. HPD’s Where We Live NYC plan presents strategies to increase housing opportunities in amenity-rich neighborhoods. Such strategies include identifying opportunities to increase the supply and diversity of low-cost housing in lower density neighborhoods, increase the floor area for buildings that provide affordable housing units, and legalize basement apartments and other accessory dwelling units.

We will also continue to invest in facilities for unhoused New Yorkers and those who need supportive services. DHS is increasing capacity and making improvements across many of its shelter facilities. H+H is launching a Housing is Health initiative to continue to partner with HPD and HRA to leverage City assets and develop more supportive housing for our medically frail, high risk, justice involved and behavioral health homeless patients. An example of a specific project is the Outposted Therapeutic Housing program to house medically frail incarcerated patients at Bellevue and Woodhull hospitals.

Supporting Growing Neighborhoods

As the City grows, we are continuing to make investments in the infrastructure and facilities that are critical to quality of life in neighborhoods. Such investments help to improve access to recreation, community services, and educational opportunities.

One way that we have holistically planned for growth is through the City’s Neighborhood Development Fund, which helps ensure that our neighborhood plans are coupled with funding for necessary infrastructure and facility improvements. These investments improve communities for both current and future residents in these areas.

For additional detail on how we plan for population and housing changes, see Guiding Principle 2 . For an example of holistic capital investment in a rezoning area, see the call-out box on Community-Driven Capital Investments – Bay Street Corridor Neighborhood Plan.