What We've Been Up To
Mayor Bloomberg Announces Expansion of New Housing Marketplace Plan
In February 2006 Mayor Michael R. Bloomberg announced details of the expansion of his New Housing Marketplace Plan, which has grown from a $3.4 billion plan to build and preserve 68,000 units by 2008, to a $7.5 billion plan to build and preserve 165,000 units by 2013.
Download the new Ten Year New Housing Marketplace Plan
New Resources and a New Housing Pipeline
As the City's stock of In Rem properties has declined, we have had to look for new ways to produce affordable housing for New Yorkers. In the first two years of the Mayor's housing plan, we have created innovative new resources and a new pipeline for the development of affordable housing.
- In October 2004, the Enterprise Foundation, already one of the City's most generous and consistent affordable housing allies, committed $1 billion to create and preserve 15,000 affordable homes as a component of the Mayor's housing plan.
- In 2005, the Bloomberg Administration successfully passed three major rezonings in Hudson Yards, Greenpoint-Williamsburg and West Chelsea. Changes to the use and density of previously under-utilized land will lead to the creation of approximately 30,000 new housing units, 8,500 of which will be affordable.
- In April 2005, Mayor Bloomberg and New York City Comptroller William C. Thompson, Jr. proposed the creation of the New York City Housing Trust Fund, which will be funded through $130 million in Battery Park City Authority revenues. The Fund would be used to create or preserve 4,500 affordable housing units for more than 11,000 New Yorkers over the next four years.
- In 2004 HDC issued over $1.2 billion of housing bonds, making it the largest issuer of multi-family affordable housing bonds in the nation. To date, HDC has issued over $800 million in housing bonds and is well on its way to surpassing last year's total.
- HPD has also developed a collaboration with the New York City Housing Authority to create additional affordable housing on New York City Housing Authority (NYCHA) owned land. In total, nine initial projects will result in up to 1,800 new affordable units - with additional projects already in the planning stages.
- The City is working to adopt the International Building Code (IBC) and I-Codes - a family of model building codes - and amend them for use in New York City. I-Codes are used in New York State, New Jersey, Connecticut, and across the country, and their adoption will streamline regulation, allow the use of new technologies, and reduce construction costs, creating greater incentives to build much needed housing in New York City.
Improving Housing Quality and Protecting Today's Residents
- Housing conditions across the city today are the best since the Housing and Vacancy Survey (HVS) began in 1965. The number of housing units in dilapidated buildings and the number of housing units with multiple maintenance deficiencies are at a historic low.
- In July 2005, the Bloomberg Administration and the City Council signed a Memorandum of Understanding (MOU) to conduct building-wide inspections in buildings where extensive housing code violations persist. This initiative is a partnership between HPD, the City Council and local not-for-profit organizations, to ensure that all New Yorkers live in safe and decent housing.
- In the first two years of the Mayor's housing plan, HDC has preserved over 6,500 units in Mitchell-Lama developments citywide. In the next two months, HDC anticipates that another 3,000 will be preserved, bringing the total units preserved in 2005 to nearly 10,000.
- HDC and NYCHA issued the first part of a $600 million bond initiative that will be used exclusively to modernize and rehabilitate NYCHA's housing stock, the largest in the country. This initiative will preserve a significant portion of NYCHA's 180,000 public housing units for the foreseeable future.
- In fiscal year 2005, over 25,000 individuals enrolled in HPD's housing education programs for important classes like Safe Work Practices for Building Owners, Advanced Property Management for Building Owners, Building Finance and Lead Awareness. This enrollment represents almost four times more than the enrollment level in 2004.