Source: Crain’s New York Business (News Media)

Date Published: 09.17.2025

Link: City built, preserved more than 33K affordable housing units in FY2025

New York City built and preserved more than 33,000 affordable housing units in fiscal year 2025, a 15% increase from the previous year, according to the mayor’s management report. Of these, approximately 13,400 were newly constructed units, the second-highest total in the city’s history, while roughly 15,000 were preserved. The total also includes 5,400 public housing units brought under private management through NYCHA’s Permanent Affordability Commitment Together program. The Department of Housing Preservation and Development contributed more than 28,000 units, surpassing its target of 20,000 units. This included a record 4,178 units for the homeless, among them 1,962 supportive housing units, the city’s third-highest number of supportive housing units on record. The report also noted efficiency gains: the housing lottery’s median approval time decreased by 50 days to 142, while at NYCHA, move-ins increased by 42% to 4,630, and vacant unit turnaround times improved by 13% to 371 days. Mayor Eric Adams has framed these results as part of his broader plan to add 500,000 new homes over the next decade. The City Council’s “City of Yes” zoning package, expected to add 80,000 homes over 15 years, and a series of rezonings in neighborhoods such as Midtown South, Atlantic Avenue, Long Island City, and Jamaica, are central to this strategy. Adams praised the progress as proof of his administration’s ability to deliver “real solutions” to the housing crisis.