De Blasio planning 200K affordable apartments in ten years

The new mayor’s ambitious housing plan aims to create more residences for low-income New Yorkers than any of his predecessors

Bill de Blasio made affordable housing one of the cornerstones of his campaign, and now he's put a number on his promises: 200,000 units saved or added in ten years. If that sounds bold, it's because it is. Neither Koch nor Bloomberg, two of his predecessors most dedicated to the cause, could achieve such a goal (the former mayor constructed and preserved 190,000 in 13 years, and the latter 165K in 12 years). To be clear, these numbers take into account homes both preserved and built from scratch.

So how does our new mayor plan to accomplish this noble, if lofty, effort? De Blasio's full plan has not been detailed as of yet, but in his campaign, he talked about requiring developers to include lower-rent apartments in new buildings, directing $1 billion of city pension funds into affordable housing, raising taxes on unused land to encourage development, legalizing basement residences and other policy initiatives to support his goal. Let's hope his ambitious plan can come to fruition.

(h/t The New York Times)

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Editor: Marley Lynch (@marleyasinbob)

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