New York State pledged $1 billion over five years for affordable housing under the City of Yes plan, pending legislative approval. Lawmakers are debating how to allocate the funds, with proposals to deepen affordability at Harlem’s Seneca redevelopment, boost homeownership in East New York, and support projects like Innovation QNS and 5 World Trade Center. The city has also committed $1 billion for housing, focusing on preserving Mitchell-Lama units and Housing Development Fund Corporation co-ops. Concerns remain about how the funds will be divided, with calls for broader support beyond NYC through a “State of Yes” plan.
Harlem’s Seneca
