DeBlasio cites progress in meeting affordable housing goals and Hurricane Sandy recovery

With only six-months in office, the DeBlasio administration announced that it has already financed more than 8,700 units of affordable housing as part of the mayor’s plan to build and preserve 200,000 units of such housing. In this round of funding the city is investing roughly $250 million to create 2,600 new affordable units and preserve another 6,140.The new development projects are located in Brooklyn and the Bronx, while the preservation units are mostly located in Manhattan’s Stuyvesant Town-Peter Cooper Village.

Regarding Hurricane Sandy recovery efforts, the mayor stated that about 20,000 homeowners have applied for money under the city-run Build It Back initiative, which was created to help those whose properties were damaged during the storm. As of last week, the city had begun work on 132 homes and had issued 397 checks worth a total of $6.37 million. The administration’s goal is to issue 500 checks and rebuild 500 homes by Labor Day.

 

For more information on the Build It Back initiative, click here.