Our Bureau
New York, NY
New York City Mayor Eric Adams has signed several pieces of legislation to help build critically-needed housing and address infrastructure concerns regarding sewers and flood prevention. Today’s bill signings come after the passage of Mayor Adams’ “City of Yes for Housing Opportunity” proposal, the most pro-housing zoning proposal in New York City history. The City of Yes proposal alone exceeds all the housing created from rezonings during any mayoral administration of the last 50 years, including all of the 12 years of the Bloomberg administration and all eight years of the de Blasio administration.
“‘City of Yes for Housing Opportunity’ is a watershed moment in our city history,” said Mayor Adams. “Thanks to our partnership with Governor Hochul, Speaker Adams, and the New York City Council, our city met the moment in front of us, passing legislation that will allow us to build 80,000 new homes while investing $5 billion in critically-needed infrastructure and housing. Today’s bill signing is another step in the right direction, but our work is far from over. Our administration will continue the work of fighting for more affordable housing, providing stable housing to our unhoused neighbors in need, and bringing the American Dream of owning a home closer to reality for more New Yorkers.”
“With Mayor Adams signing the ‘City of Yes for Housing Opportunity’ legislative package into law, today marks a new chapter in our city’s effort to ensure every New Yorker has a safe and affordable home,” said First Deputy Mayor Maria Torres-Springer. “Thanks to Mayor Adams’ leadership and our partnership with Governor Hochul, Speaker Adams, and the City Council, we took decisive action to deliver affordability for hard-working New Yorkers. We are also investing $5 billion to strengthen our infrastructure, protect tenants, and bolster our ability to finance affordable housing across the five boroughs. Thank you to all who stood alongside us to say ‘yes’ to ‘City of Yes.'”
“Planning for 80,000 more homes in New York must be done smartly — accounting for the infrastructure that turns units into complete communities,” said Deputy Mayor for Operations Meera Joshi. “The professionals at DOT, DEP, DOB, and Parks are stepping up to add critical infrastructure and community character to protect and shape neighborhoods for future generations. Today, as Mayor Adams signs these bills, we do just that.”
Mayor Adams had made historic investments toward creating affordable housing over the last three years. In June, Mayor Adams agreed to an on-time, balanced, and fiscally-responsible $112.4 billion Fiscal Year (FY) 2025 Adopted Budget with the City Council that invests $2 billion in capital funds across FY25 and FY26 to HPD and the New York City Housing Authority’s capital budgets. In total, the Adams administration has committed a record $26 billion in housing capital in the current 10-year plan as the city faces a generational housing crisis. In July, Mayor Adams announced back-to-back record-breaking years in both creating and connecting New Yorkers to affordable housing. This past spring, the city celebrated the largest 100 percent affordable housing project in 40 years with the Willets Point transformation.
Further, the Adams administration is using every tool available to address the city’s housing crisis. Mayor Adams announced multiple new tools, including a $4 million state grant, to help New York City homeowners create ADUs that will not only help them to afford to remain in the communities they call home, but also to build generational wealth for families.
“As the chair of the Committee on Land Use for the last seven years, I have had the privilege of overseeing the approval of well over 100,000 units of new housing across New York City,” said Councilmember Salamanca. “In my district alone, I’ve approved over 10,000 units of 100 percent affordable housing. Unfortunately, there is a sad reality. Despite the lengthy negotiations it takes to approve a project, it often takes years for HPD to provide the necessary project funding to facilitate a development’s groundbreaking, delaying much-needed housing in the process. This lack of transparency is why I introduced Intro. 850-A, which would require HPD to report biannually when projects can expect to receive financing as part of the agency’s twice-a-year closing period. If a project does not close within a targeted closing cycle, HPD would be required to report the reasoning, and when a new closing date can be expected. Mandating this information to be public is an important step in understanding how the city prioritizes the development of housing across New York City.”
