Mayor Announces Funding for ‘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.
Mayor Bloomberg announced yesterday that the city has earmarked funding for one-third of all of the “affordable housing” that he pledged to have in place before leaving office. His $7.5 billion plan will create and preserve 165,000 units of low-rent housing. “Because our population is growing, demand for housing is outstripping the supply,” the mayor said yesterday. “The problem before us is no longer abandonment, but affordability.”
