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.

The U.S. is ill-prepared to provide adequate housing for the growing ranks of older people, according to a report from Harvard University’s Joint Center for Housing Studies. Over the next decade, the U.S. population older than 75 will increase by 45%, growing from 17 million to nearly 25 million, with many expected to struggle financially.

Yale University breaks ground on the nation's largest Living Building student housing complex

University Buildings | Dec 8, 2023

Yale University breaks ground on nation's largest Living Building student housing complex

A groundbreaking on Oct. 11 kicked off a project aiming to construct the largest Living Building Challenge-certified residence on a university campus. The Living Village, a 45,000 sf home for Yale University Divinity School graduate students, “will make an ecological statement about the need to build in harmony with the natural world while training students to become ‘apostles of the environment’,” according to Bruner/Cott, which is leading the design team that includes Höweler + Yoon Architecture and Andropogon Associates.

Almost a million apartment units are currently under construction in the U.S., says Apartment List.

MFPRO+ News | Dec 7, 2023

7 key predictions for the 2024 multifamily rental housing market

2024 will be the strongest year for new apartment construction in decades, says Apartment List's chief economist.

Codes and Standards | Dec 7, 2023

New York City aims to spur construction of more accessory dwelling units (ADUs)

To address a serious housing shortage, New York City is trying to get more homeowners to build accessory dwelling units (ADUs). The city recently unveiled a program that offers owners of single-family homes up to nearly $400,000 to construct an apartment on their property.