To my fellow New Yorkers:
We have a crisis of affordability on our hands.
It's a crisis in many ways built on New York City's success. We are a safer, more welcoming city than we were decades ago. People from all over the world come to study, to work or to start a business here. And that success story has put pressure on our housing stock. Coupled with ever-rising economic inequality, it has created a painful reality where more and more New Yorkers are spending more and more to cover their housing costs, and entire neighborhoods have lost their affordability.
Affordable housing is part of the bedrock of what makes New York City work. It's what underpins the economically diverse neighborhoods New Yorkers want to live in. It's critical to providing financial stability for working families, helping them get ahead and build a better life.
And that is why today, we are laying out a comprehensive plan to build and preserve 200,000 affordable units over the coming decade for households, to support New Yorkers with a range of incomes, from the very lowest to those in the middle class. This is a plan to get ahead of the curve, to protect neighborhoods and build our city's next generation of affordable housing. It's about knitting communities together.
Our affordable housing policies must reach every New Yorker in need, which is why this plan thinks big about the changes we need to make—in government and in the private sector—to make this a city where everyone rises together, and everyone has a safe and decent home.
If you're in a community where affordability is disappearing, we want to protect it.
If your family lives in a rent-regulated apartment, this plan is focused on helping you keep it.
If you're a senior trying to remain in the neighborhood you helped to build, we are fighting to help you stay.
If you are a building owner or developer intent on building or preserving affordable apartments, we will support you.
This is a five-borough, ten-year plan. It will marshal people and resources from every corner of this city behind a singular purpose: to make this city again a place where our most vulnerable, our working people and our middle class can all thrive. Together, let's make that vision a reality.
Mayor Bill de Blasio