Closing Bell: A Look Back at the New Housing Market Place Plan in Queens
The HPD took a look back on Bloomberg’s New Housing Market Place Initiative, which set a goal of financing 165,000 units of affordable housing by July 2014. Since 2003, the city financed almost 160,000 units of affordable housing throughout the five boroughs. Queens, in particular, saw 16,530 units either preserved or built. Between city subsidies…
The HPD took a look back on Bloomberg’s New Housing Market Place Initiative, which set a goal of financing 165,000 units of affordable housing by July 2014. Since 2003, the city financed almost 160,000 units of affordable housing throughout the five boroughs. Queens, in particular, saw 16,530 units either preserved or built. Between city subsidies and other funding, $2.2 billion was invested in affordable housing development in the borough. The report highlights Hunter’s Point South, the largest mixed-use, mixed-income project taken on by Bloomberg, as well as the Arverne by the Sea development in the Rockaways, which is soon getting a YMCA. The HPD also provided a number of low-cost loans to preserve affordable housing, especially in the Rockaways — one case is the massive transformation of Ocean Village.
The New Housing Market Place Plan (NHMP) By the Numbers [NYC HPD]
Welcome back guys! You were definitely missed.
It brings me no joy to write this, but it really should be “the DHPD” as opposed to “the HPD.” Otherwise, keep up the great work. And Happy New Year!