De Blasio: Administration Has Preserved Most Affordable Housing Since 1989
NEW YORK (CBSNewYork/AP) -- Mayor Bill de Blasio on Monday said his administration has financed the largest annual number of affordable apartments in a quarter-century.
De Blasio said Monday the city created or preserved 20,325 affordable housing units in the last fiscal year, which ended June 30.
The figure represents the most in any year since 1989 -- the height of former Mayor Ed Koch's efforts to rebuild the South Bronx.
About 8,500 of the units in de Blasio's tally are new. The rest were preserved as affordable instead of market-rate.
Many units were reserved for extremely low-income tenants, though slightly fewer than the administration originally projected.
De Blasio unveiled his ambitious affordable housing plan in May 2014. It calls for preserving 120,000 apartments and building 80,000 more over a decade.
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