City to spend $179M on affordable housing

The city has announced it will spend $179 million renovating or developing 5,000 affordable apartments in the South Bronx, Upper Manhattan, Brooklyn, and Queens. In Harlem, for example, the city’s Housing Development Corporation set aside $63.1 million of the $179 million to help build a mixed-income rental development called Beacon Park, along with two other new buildings. more [Crain’s]