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Building Blocks of Change : Office of the New York City Comptroller Brad Lander

comptroller.nyc.gov · 18,220 words · saved by 1 readers

Since the 1970s – as New York City’s housing challenges have shifted from abandonment and disinvestment to gentrification and skyrocketing rents – the NYC Department of Housing Preservation and Development (HPD) has financed the development and preservation of hundreds of thousands of affordable homes, provided financial support and technical assistance to co-operators, tenants, and building owners, and held landlords accountable to meet standards of habitability. HPD continues to have an urgent role to play in addressing the city’s housing crisis, with post-pandemic rents at all-time highs, housing starts at extremely low levels, homeownership far beyond the reach of most families, more tenants than ever facing extremely high-rent burdens, and historically high homelessness. Financing the production and preservation of affordable housing remains the City’s most powerful tool in combatting the city’s housing crisis – and HPD is involved in the vast majority of affordable housing projec

Table of Contents Executive Summary Since the 1970s – as New York City’s housing challenges have shifted from abandonment and disinvestment to gentrification and skyrocketing rents – the NYC Department of Housing Preservation and Development (HPD) has financed the development and preservation of hundreds of thousands of affordable homes, provided financial support and technical assistance to co-operators, tenants, and building owners, and held landlords accountable to meet standards of habitability. HPD continues to have an urgent role to play in addressing the city’s housing crisis, with post

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