City finances 14,676 affordable style=”color

HPD Commissioner Rafael Cestero

The city financed 14,676 affordable housing units during fiscal year 2010, which ended June 30, according to the Department of Housing Preservation and Development and the Housing Development Corporation. The break-down by borough was as follows: 5,006 units in Manhattan; 3,184 units in Brooklyn; 3,045 units each in the Bronx and in Queens; and 201 units in Staten Island. The homes were financed as part of the Bloomberg administration’s $8.4 billion New Housing Marketplace Plan, which has forged ahead with its goal of creating and preserving 165,000 affordable housing units despite the real estate downturn and the city’s budget woes. Thus far, the city has financed nearly 108,600 units in total. “There is no other city or even state in the nation that can claim to have achieved anything on this scale,” said Rafael Cestero, commissioner of HPD. TRD

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