NYC gets $27M in state financing for affordable housing

The state’s Housing Finance Agency and Affordable Housing Corporation have signed off on $57.6 million in financing for the construction and renovation of 670 affordable housing units statewide, including 120 new units for the mentally ill in New York City. The planned, 65-unit Concern MacDougal Apartments in Bushwick, Brooklyn will receive $14.8 million in financing; the Bronx’s new Hughes House Apartments in East Tremont is allotted $12.6 million. The rest of the financing will go toward affordable housing in Rockland, Warren, Onondaga and Monroe counties. TRD