Saying “yes” to housing reforms also means saying “yes” to dedicated funding for maintaining a robust and affordable housing program. Regional Plan Association congratulates New York City Mayor Adams, Speaker Adams, and the New York City Council for delivering an additional $2 billion over the next two years in the budget to create new affordable housing opportunities and preserve public housing.
This additional funding is urgently needed. Analysis conducted by McKinsey & Company for RPA shows that the region may face a housing gap of 920,000 units by 2035 if we don’t scale up housing production. The additional funding will help expand production and finance hundreds of affordable housing projects already in the pipeline. We look forward to continued collaboration with the City’s leadership to meaningfully address our housing supply needs.
