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NYC Created 8,500 New Affordable Housing Units This Year

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2015 was a big year for affordable housing in New York City; the city financed the creation and preservation of 20,325 affordable dwellings, the mayor's office reports. Of those 20,325 dwellings, nearly 8,500 are new which surpasses the city's record since the Housing Preservation Department was created in 1978. 11,825 dwellings in the count were existing affordable units that was preserved with new agreements and subsidies, Crains says. The only year in which more affordable housing was preserved was in 1989, when the Koch administration maintained some 23,000 existing affordable units. The breakdown of preserved versus affordable housing this year is in line with the mayor's Housing New York plan, Crains says, in which the city plans to create 80,000 new affordable units and preserve 120,000 units within the next 10 years.

The new and preserved affordable housing hits high on the city's mark for income range, with nearly 70 percent of dwellings set aside for low income households making between $38,851 and $62,150 annually, as opposed to the city's goal of 58 percent of dwellings set aside for low income households. Fewer than 20 percent of the dwellings were set aside for less affluent households.
· De Blasio Administration Announces a Record-Breaking 20,325 Affordable Apartments and Homes Financed in Last Fiscal Year, Enough for 50,000 New Yorkers [official]
· Mayor announces near-record number of affordable housing units [Crains]
· De Blasio Unveils 10-Year, $41B Affordable Housing Plan [Curbed]
· All Housing New York coverage [Curbed]