Bloomberg on track to meet 165K affordable units goal

The Bloomberg administration is well on its way to meet – in fact, exceed – its goal of building or preserving 165,000 affordable housing units by July 2014, according to a new report from the city’s Department of Housing Preservation & Development.

The city launched its affordable housing initiative – known as the New Housing Marketplace Plan – in 2003, and had completed nearly 160,000 units of affordable housing by the end of 2013, according to the report. Under the plan Manhattan had 51,168 units built or preserved, the most of any borough. Brooklyn had 37,643 units built or preserved, the Bronx had 49,426 , Queens had 16,530 and Staten Island had 2,463.

The Bloomberg administration has invested about $23.6 billion in the affordable housing plan, according to the report.

Mayor Bill de Blasio’s plan is even more ambitious, calling for the building or preservation of nearly 200,000 affordable housing units over the next decade. [NYC.gov] – Hiten Samtani