According to Mayor Eric Adams, New York City has set record after record in producing affordable housing and providing access to it for its residents—the city funded 28,944 affordable public housing units through new building and preservation measures during the 2024 fiscal year.

NYC Mayor Eric Adams.Photo byNYC Mayors Office From Flickr

Notable accomplishments include the financing of 25,266 affordable dwellings by the Housing Development Corporation and the Department of Housing Preservation and Development, which includes 14,706 newly built homes, 2,155 permanent supportive housing units, and 4,085 for formerly homeless New Yorkers.

Additionally, through the Permanent Affordability Commitment Together initiative, the city restored 3,678 apartments owned by the New York City Housing Authority.

The Adams administration also used affordable housing lotteries and housing vouchers from the City Fighting Homelessness and Eviction Prevention Supplement to transfer a record number of homeless New Yorkers into permanent housing.

The City of Yes For Housing Opportunities

The Adams administration changed policies and made significant investments to support these endeavors. The "City of Yes for Housing Opportunity" zoning proposal, which could result in the construction of up to 108,850 new homes over the next 15 years, is being advanced by the Adams administration, which has committed a record $26 billion in New York housing capital in the current ten-year plan.

The Adams administration was successful in getting numerous additional housing-related policies included in the additional York state budget for 2024. The city has also launched initiatives such as the Office Conversion Accelerator and the Green Fast Track for Housing to cut red tape and speed up the housing delivery process.