A coalition of councilmembers, housing groups and labor unions rallied outside City Hall Monday to unveil a proposal for affordable housing commitments in the city budget.
The plan includes $2 billion in capital investments over four years.
The money would go toward expanding the Open Door and Neighborhood Pillars programs — the first would fund new construction and the second would provide loans to nonprofits to rehabilitate housing.
This plan comes as officials recently announced a city record-low 1.4% housing vacancy rate.
Reports show that lower-income families are now moving away at higher rates from the city, meanwhile millionaires have no trouble moving back in.
City Comptroller Brad Lander joined NY1 political anchor Errol Louis on “Inside City Hall” Monday to break this down.
“We need an all hands strategy,” he said about the plan. “What this would do is focus on housing in mostly outer borough neighborhoods that working people can afford.”