Mayor announces 17,300 affordable housing units in 2014
by Jess Berry
Jan 21, 2015 | 3818 views | 0 0 comments | 129 129 recommendations | email to a friend | print
Mayor Bill de Blasio announced last Thursday that the city financed and preserved more than 17,300 affordable housing units in 2014, exceeding its first-year projections by more than 1,300 units.

Based on average household size, the mayor estimated that these new and preserved units can affordably house 42,000 New Yorkers.

More than 86 percent of the units financed in 2014 were for extremely low, very low and low-income families, which is defined by the city as families with annual incomes for a four-person household ranging from less than $25,150 up to $67,120.

The preservation of already-existent affordable housing — keeping residents in their homes, rehabilitating old apartments and locking in long-term affordability — is a huge part of the mayor’s housing plan.

The mayor made the announcement of 2014’s affordable housing success in front of 45-55 North Elliott place, a low-income co-op in Fort Greene for 159 families earning less than $60,000 per year for a family of four.

In December, the city invested $3.1 million in capital funding, plus another $250,000 that had previously been dedicated to the project by then-Councilwoman Letitia James, to ensure the building will remain affordable for another 30 years.

The funding will also allow for window upgrades, asbestos removal, elevator rehabilitation and a boiler replacement.

In 2014, the de Blasio administration preserved 11,185 units in a similar manner and financed another 6,191 new affordable units to be constructed throughout the boroughs.

“By ramping up new construction and preventing displacement within our neighborhoods, we’re laying the foundation for a more affordable city,” de Blasio said. “And in 2015, we expect even bigger and better results.”

The next milestone for the Housing New York plan will be at the end of Fiscal Year 2015, at which point the city has aimed to finance 16,000 units. Currently, the administration is on target, having already financed 8,600 units by December 31 of 2014.

Elected officials applauded Mayor de Blasio for his work in creating and preserving affordable housing, including Brooklyn Borough President Eric Adams, who joined the mayor at 45-55 North Elliott Place for the announcement.

“Brooklyn is home to everyone from everywhere, and it must remain that way in an affordable, sustainable fashion,” Adams said. “We have made important strides in the past year in creating and preserving thousands of affordable housing units in this borough, and I believe the momentum towards progress for all will only build in the months ahead.”

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