Housing advocates argue that Mayor Eric Adams’ plans to spend $22 billion over the next decade to preserve and build affordable housing is not enough to address the city’s housing crisis and falls far short of what he promised during his mayoral campaign.
Housing advocates argue that Mayor Eric Adams’ plans to spend $22 billion over the next decade to preserve and build affordable housing in New York City is not enough to address the city’s housing crisis and falls far short of what he promised last year during his mayoral campaign.
During the mayoral campaign, NYHC convened more than 90 organizations with expertise in housing, homelessness, real estate, and finance to develop a housing plan. The coalition promoted candidates who pledged to invest $4 billion a year in affordable housing, including money to repair the city’s public housing stock as well as reduce and prevent homelessness.
Mayor Adams unveiled his $99.7 billion executive budget, his first, at the opulent Kings Theatre in Brooklyn. The venue was originally chosen for his inauguration that he canceled in January due to concerns over the rise of COVID-19 infections driven by the omicron variant. “Under this status quo, there will be affordable housing units produced. But we're going to maintain this unacceptable status quo, an ongoing housing crisis with high levels of homelessness, high levels of people that are paying more than they can afford in their rent, and experiencing housing crises,” Cheney said.
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