4,700 Affordable Homes Authorized by City Council & Mayor DeBlasio in Yr 1 of MIH Program

pictured (proposed building at 141 Willoughby St in Brooklyn)

Original Media Source: NYCNewswire.com

According to City Hall, Mayor DeBlasio and the NY City Council authorized 4,700 affordable apartments through the Mandatory Inclusionary Housing (MIH) Program, a program that requires developers to build permanently affordable housing in areas zoned for growth to ensure that all of the city’s neighborhoods will be diverse and inclusive. In the first year alone, 11 applications for nearly 4,700 new affordable homes have been approved by the City Council. At least 1,600 are required to be permanently affordable under MIH.

This landmark MIH legislation, the strongest inclusionary program in the nation, was adopted by the City Council on March 22, 2016. It was the result of months of advocacy by the Mayor, his administration, and the New York City Council working to create a program that protects our neighborhoods by mandating affordability.

Compared to MIH programs in other cities, New York City’s requires a higher percentage of affordable housing, serves lower income families and a broader range of households, and will result in more affordable housing being located in the same building as market rate housing. MIH ensures balanced growth and economically diverse neighborhoods, while also providing a tool for communities to shape development.

Approved Projects:

QUEENS: One Flushing (231 Total Units / 83 Permanently Affordable Units)

BRONX:

La Central (1,655 Total Affordable Units / 331-413 Permanently Affordable Units)

Concourse Village West (265 Total Affordable Units / 68  Permanently Affordable Units)

1932 Bryant Ave (327 Total Units / 82-98 Permanently Affordable Units)

147th St Rezoning (165 Total Affordable Units / 58-81 Permanently Affordable Units)

MANHATTAN:

Lexington Gardens II (400 Total Affordable Units / 160 Permanently Affordable Units)

The Robeson (79 Total Affordable Units / 22 Permanently Affordable Units)

The Frederick (74 Total Affordable Units / 19 Permanently Affordable Units)

550 Washington St (1,586 Total Units / 476 Permanently Affordable Units)

BROOKLYN: 141 Willoughby St (202 Total Units / 60 Permanently Affordable Units)

Affordable Housing Applications Here