New York City Aims to Build Affordable Housing in Wealthier Neighborhoods
December 26, 2023 by The Department of Housing Preservation and Development currently only uses money to subsidize projects that only contain affordable housing. However, New York City officials have proposed a plan to allow public money be put towards mixed-income housing projects in wealthier neighborhoods. Under the plan, funds can be applied to projects that contain both affordable and market-rate homes. The goal is that developers who can no longer benefit from property tax breaks will be able to build more affordable units from income from the high-rent apartments. https://www.nytimes.com/2023/12/26/nyregion/affordable-housing-plan.html?searchResultPosition=9