New York City is teaming up with construction unions across the five boroughs to address the ongoing challenge of bolstering affordable workforce housing, Mayor Eric Adams said Friday.

Gary LaBarbera, president of the Building and Construction Trades Council of Greater New York, joined the mayor on “Mornings On 1” to announce the partnership, which seeks to create thousands of apartment units specifically for the city’s unionized workforce.

LaBarbera said the initiative involves the investment of pension funds from trade unions into the Cirrus Workforce Housing Fund, noting that they have already pledged more than $100 million. 

While LaBarbera expects to raise a total of $400 million for the initiative, the initial investment will allow work to begin.

“We will be able to have a financial construct that does a number of things. One, is a very strong investment for investors. But two, and most importantly, we'll be able to build housing for essential workers in the city of New York,” he said.

LaBarbera noted that similar projects, such as Co-Op City, were built under similar circumstances.

Adams echoed the importance of the endeavor, emphasizing its impact on everyday working-class New Yorkers.

“We’ve stated this over and over again. We are watching the hemorrhaging of working-class people leaving the city because it has become unaffordable,” he said. “We are gonna build it by union workers, we’re gonna make it affordable for working class people in the city, and we’re gonna use our resources, such as land and subsidies to make this marriage happen.” 

“This is a really exciting moment for those who have long stated they wanted to stay in the city, but it has reached a level of unaffordability,” he added.