(WNY News Now) – Governor Hochul’s Landmark Housing Initiative Aims to Alleviate Affordability Challenges. Governor Kathy Hochul celebrated the creation of about 71,000 new apartments in New York City, including 21,000 affordable units, thanks to an extension of the construction completion deadline for the 421-a tax incentive program. This celebration comes after letters of Intent were filed with the New York City Department of Housing Preservation and Development from owners that represent nearly 650 buildings. The 421-a construction completion deadline extension was part of a joint effort between Governor Hochul and the Adams administration to secure new tools to address the City’s housing crisis.