New York City officials plan to develop 500,000 homes by 2032 to combat housing crisis
A program aiming to transform commercial buildings into affordable homes will be created.
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New York City officials plan to develop 500,000 homes by 2032 to help tackle the housing crisis.
Mayor Eric Adams says the plan is to use tools that will incentivize the construction of multi-family rental homes through a program called “Affordable Neighborhoods for New Yorkers.”
A program aiming to transform commercial buildings into affordable homes will be created. Deadlines for projects underway will also be extended, according to Adams.
Adams says he hope the changes with result in permanent affordable housing for New York City residents.
