Page 14 - The Indian EYE 080825

North The Indian Eye

AMERICANNewsline

14 AUGUST 08, 2025
Mayor Adams’ Administration Shatters

Affordable Housing Records

Announcement Part of Mayor’s “Housing Week” Highlighting City’s Efforts to Create More

Homes, Connect More New Yorkers to Homes, and Keep New Yorkers in Homes They Already Have

OUR BUREAU created in a three fiscal-year stretch
(FY 2023 – FY 2025).
NEW YORK, NY
Following Mayor Adams’ suc-
ew York City Mayor Eric Ad- cessful advocacy in Albany to pass
ams has announced that the a historic housing deal last year, the
Ncity broke multiple records Adams administration also produced
for producing and connecting New a record 6,593 421-A standalone
Yorkers to affordable homes in Fis- units and advanced the first 467-M
cal Year (FY) 2025, delivering the and 485-X projects in FY 2025.
affordable housing that New York- The Adams administration re-
ers need and reinforcing the Adams mains focused on making sure that
administration’s position as the most every New Yorker can find an afford-
pro-housing administration in city able place to live, with more than 95
history. Additionally, Mayor Adams percent of subsidized new construc-
announced that his administration tion designated for low-income New
has created, preserved, or planned Yorkers. This is the second highest
approximately 426,800 homes percentage on record, eclipsed only
through its efforts to date. by last fiscal year.
In FY 2025 specifically, through HPD’s historic successes come
new construction and preservation for Housing Opportunity” and the York a more affordable city for work- despite steep challenges facing the
programs, the Adams administration administration’s five neighborhood ing-class families.” city — including high interest rates,
produced a total of 33,715 affordable plans; successful advocacy in Albany “The numbers speak for them- federal tariffs, economic uncertainty,
homes — including 28,281 afford- to pass a historic housing deal last selves,” said Deputy Mayor for Hous- and increasing costs for maintenance
able homes through the New York year; initiatives to build new homes ing, Economic Development, and and operations — reinforcing, once
City Department of Housing Preser- on city-owned sites such as Executive Workforce Adolfo Carrion, Jr. “This again, the Adams administration’s
vation and Development (HPD) and Order 43 and the “24 in 24” plan; administration has proven that we are record as the most pro-housing in our
the New York City Housing Devel- and much more, the Adams admin- the most pro-housing administration city’s history.
opment Corporation (HDC), as well istration has created, preserved, or in this city’s history. We have broken Furthermore, the Adams admin-
as 5,434 apartments that will be ren- planned for approximately 426,800 record after record in planning, pre- istration is committed to supporting
ovated through the New York City homes for New Yorkers — including serving, and building over 426,000 the most vulnerable New Yorkers, es-
Housing Authority’s (NYCHA) Per- at least 250,000 affordable homes — units of housing. Every one of these pecially those struggling with home-
manent Affordability Commitment over the next 15 years. numbers represents a person, a fami- lessness or in need of additional ser-
Together (PACT) program. “Others may have talked about ly, and a New Yorker that will be put vices. In FY 2025, HPD produced a
For the first time, Mayor Adams affordable housing, but we actual- on the path to stability and success.” historic 4,178 homeless units, break-
also announced the total number of ly built it. Others may have talked From day one, the Adams ad- ing the record for the third fiscal
affordable and market-rate homes about citywide rezoning, but we ac- ministration has focused on creating year in a row and bringing the total
created, preserved, or planned tually passed it. Others may have the affordable homes New Yorkers number of homeless units produced
through the Adams administration’s talked about taking on our city’s need, breaking affordable housing under the Adams administration to
housing initiatives to date. Between housing crisis, but we actually did it, records in FY 2023 and again in FY 12,920. Within those homeless units,
historic efforts by the Adams admin- and we’re continuing to do it every 2024. The administration continued HPD produced 1,962 supportive
istration to finance the creation and single day,” said Mayor Adams. “The those efforts in FY 2025, with HPD units in FY 2025, for a total of 6,714
preservation of housing; speed up the numbers don’t lie: We have already and HDC financing the creation or affordable, supportive units financed
production of new homes through laid the groundwork for over 426,000 preservation of 28,281 affordable under the Adams administration.
new initiatives like the Office Con- homes across the five boroughs in homes — including a record 26,087 These historic numbers follow Mayor
version Accelerator and the Green the coming years, connecting over affordable rental apartments. HPD Adams’ announcement, earlier this
Fast Track; rehabilitate public hous- 31,000 New Yorkers to affordable has now produced a total of 85,962 year, that the city will reimagine the
ing through the PACT program and homes. There’s no denying, we are affordable homes since the start of 15/15 Supportive Housing Initiative
the New York City Public Housing the most pro-housing administration the Adams administration, with the and invest $339 million over several
Preservation Trust; pass landmark re- in city history, and we are continuing last three fiscal years representing years to create and preserve more
zoning initiatives such as “City of Yes that work every day as we make New the most new affordable homes ever congregate site supportive housing.

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