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City launches tracker for 50,000 affordable homes planned on city-owned land – but little vacant land remains
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amNewYork
The tracker includes projects combining housing with public facilities, as well as developments on NYCHA campuses and vacant lots.
A community land trust would retain ownership of the land beneath the development, allowing buyers to build a limited amount of equity while keeping the homes affordable for future purchasers.
Similar library and housing projects are moving forward at the Bloomingdale Library in Manhattan and the New Utrecht Library in Brooklyn.
The mayor has set a goal of building 200,000 affordable homes over the next decade.
His administration noted that the recently adopted city budget includes $22 billion for affordable housing over five years, including nearly $5 billion in capital funding for new affordable housing over the next two years.