New York mayor releases multi-year plan to address affordable housing crisis

New York City Mayor Eric Adams recently released a multi-year plan to address New York City’s housing crisis.

The plan seeks to create and preserve affordable housing. It will incentivize the inclusion of permanently affordable and rent stabilized housing in new, multifamily construction projects. The program also encourages new homeownership development in the outer boroughs with new development incentives designed to encourage family-sized homeownership units.

The plan seeks to break down silos among city agencies so more homeless shelter residents are eligible for permanent housing. The mayor also wants to improve conditions in shelters and improve services, help the homeless move into permanent housing faster, and reduce the risk of returning to shelters.

Another part of the plan looks at ways to improve health and safety of New Yorkers through housing including ways to improve code enforcement and reducing lead paint and asthma triggers exposure.