On Thursday, Mayor de Blasio announced that his administration has financed the creation and preservation of more than 17,300 units of affordable housing in 2014, a pretty sizable chunk of the 200,000 units of affordable housing the administration aims to create and maintain over the next ten years. Of the 17,300 units, 11,185 were existing affordable apartments that the city provided financial incentives like loans for rehabilitation work to maintain, the New York Times reports. The remaining 6,191 apartments are already financed and will be built in the future. The city estimates that the 17,300 apartments will be able to provide housing to nearly 42,000 New Yorkers. Although the administration reports that they exceeded their projection for the year by 1,300 units, they must amp-up production to 20,000 apartments a year to meet their long-term goals.
Of the 17,300 apartments, the Bronx led the pack with 5,518, followed by Brooklyn, Manhattan, Queens, and Staten Island. A vast majority of the apartments (12,411) are dedicated to low-income tenants, defined by families of four making between $41,951-$67,120 per year.
Former mayor Michael Bloomberg may take issue with de Blasio's numbers, though. The Times reports that a crossover between Bloomberg and de Blasio's affordable housing agendas may have contributed to de Blasio's program's success,
According to the Independent Budget Office, about 8,700 units were included in either new construction or preservation projects that received financingthe point at which they are counted toward the city's housing goalsfrom January 2014 to June 2014. That means they spanned both the 2013-14 fiscal year, which began under Mr. Bloomberg, and the 2014 calendar year, Mr. de Blasio's first 12 months in City Hall. De Blasio vaguely brushed off the concern stating that his administration is only taking credit for units that they brought "to the finish line." Whatever the case, the city could still use more housing affordable to its residents. Carry on, folks.
· By Highlighting Gains in Affordable Housing, de Blasio Raises a Counting Question [NYT]
· De Blasio Unveils 10-Year, $41B Housing Plan [Curbed]