Quinn Reveals: 12,000 applications for 79 apartments at Brooklyn affordable housing development; presses permanent affordable housing plan as Mayor
Citing the nearly 12,000 applications submitted for 79 available housing units at a Williamsburg affordable housing development today, Christine Quinn laid out a comprehensive housing plan that would quadruple the current rate of middle class affordable housing construction, and for the first time keep much of those apartments permanently affordable. Quinn, a former housing advocate, has made affordable housing a cornerstone of her campaign for mayor and unveiled an aggressive agenda to increase affordability, not only for low-income New Yorkers, but also for middle-income New Yorkers who are being squeezed out of many neighborhoods. This builds on Quinn's record as Speaker creating thousands of new units of affordable housing, and passing legislation to ensure landlords keep their buildings in good condition.
“The single greatest crisis of affordability in New York City is housing and without an aggressive housing plan that allows middle class New Yorkers to live, work, and raise a family here, we risk breaking the backbone of our local economy,” said Quinn. “I want to be known as the housing mayor and I have an aggressive and ambitious plan that will go a long way toward ensuring that middle class families can continue to call New York City home.”
Quinn’s plan involves building 40,000 new middle-income affordable housing units over the next ten years through a combination of new financing and savings within the city's capital budget. The plan would quadruple the current rate of construction, resulting in by far the largest middle class housing program since Mitchell-Lama. Quinn’s plan would also maintain the current rate of 4,000 new lower-income affordable apartments being produced every year.
Currently, the affordability requirements for most subsidized apartments expire after 20 or 30 years, leaving many New Yorkers priced out of their homes and the middle class priced out of entire neighborhoods. Quinn’s housing plan includes a Permanent Affordability Act that will for the first time allow the City to keep both new and existing housing affordable permanently.
And since some neighborhoods don’t have enough room for additional development of brand new affordable housing, Quinn’s plan also includes a new tool for converting existing market-rate housing into affordable units. She will work to pass legislation in Albany that would create incentives for building owners willing to turn their market-rate units into affordable middle-income housing.
“Right now, buildings like this one simply can’t meet all the demand for middle class affordable housing,” said Quinn. “I’ve got a plan to sure middle class New Yorkers can stay in the neighborhoods they helped make great. We’ll start by building enough new units to meet demand, and make sure more of them are affordable for middle-income families. And we have to make sure housing that is affordable today remains affordable tomorrow – It’s not enough to be affordable; more housing must be permanently affordable. If we take these steps, we can keep New York City a place for the middle class for generations to come.”
All week, Quinn will be visiting neighborhoods around the five boroughs to discuss her plans to build a more affordable New York City for the middle class and those working to get there. She'll be inviting New Yorkers to share her ideas and theirs by tweeting with #AffordableNYC. To see more of Quinn's ideas, go to www.quinnfornewyork.com.