City Succeeds in Preserving ‘Affordable’ Housing
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
The Bloomberg administration is more than 35% complete with its ambitious plan to preserve and create 165,000 units of low- and middle-income housing between 2003 and 2013, the city announced yesterday .
The city has preserved the “affordable” status of about 40,000 units, more than half of its 73,000-apartment goal.
However, the efforts for creation of affordable housing are less advanced, as the city has claimed the completion of only 25,000 of its target 92,000 units.
A spokesman for the city’s Department of Housing Preservation and Development said the $7.5 billion initiative was on schedule and on budget, and the plan’s early focus was intended to be on the preservation component.
