Mayor Adams Announces Back-to-Back Record-Breaking Years Creating Affordable, Supportive Housing in Calendar Year 2024

National -

February 19, 2025

NEW YORK – RealEstateRama – New York City Mayor Eric Adams today announced back-to-back record-breaking calendar years producing critically-needed affordable housing across the five boroughs as the city faces a generational housing crisis. The New York City Department of Housing Preservation and Development (HPD) broke the following city records in 2024:

Back-to-back years of most units produced for formerly homeless, with 4,623 total units.
Back-to-back years of most supportive units produced, with 2,761 total units.
Record year of most senior units produced, with 2,966 total units.

The announcement comes as the Adams administration has aggressively tackled a generational housing crisis head-on by advancing landmark housing projects, continuously breaking records in affordable housing creation, and passing historic pro-housing legislation — all in an effort to bring down the cost of rent for working-class New Yorkers.

“A home is more than just four walls and a roof; it’s the key to unlocking the American Dream, a path towards stability, and an opportunity that’s been out of grasp for too many for too long,” said Mayor Adams. “Since day one of our administration, building housing and bringing down the cost of living has been one of our top priorities. Thanks to our team, working alongside advocates and everyday New Yorkers, we have moved the ball forward — and the numbers show it, with the most units produced for formerly homeless New Yorkers in city history, the most supportive housing units produced in city history, and the most senior housing units produced in city history! Behind each of these stats are real New Yorkers who found the housing they needed to live in the greatest city on the globe. To meet our affordable housing crisis head on, we must continue to be bold and ambitious, looking anywhere and everywhere to build the housing New Yorkers need and deserve.”

“This administration has fired on all cylinders to address the city’s housing crisis. A second calendar year in a row of broken records for housing production and connecting New Yorkers from shelter to permanent housing shows how we’re constantly moving forward,” said First Deputy Mayor Maria Torres-Springer. “We never sat on our hands last year to get new tools to create, preserve, and place New Yorkers in housing. Our talented public servants and leadership at City Hall, HPD, the New York City Housing Development Corporation, the New York City Housing Authority, and the New York City Department of Social Services housed the most vulnerable, while expanding the number of our city’s affordable homes.”

“New York City broke affordable housing records, once again, in 2024 — an impressive feat that means the lives of many New Yorkers will become tangibly better and more affordable,” said New York City Executive Director for Housing Leila Bozorg. “Last year, we saw, again, countless signs of New Yorkers’ support for our aggressive housing agenda and we continued to deliver, using every tool we gained to build, preserve, and place New Yorkers into housing. Back-to-back record-breaking years are not mere statistical victories — they are signs that New Yorkers are able to live in an expanding amount of safe, quality, and affordable housing.”

“Housing is the foundation of opportunity. Our record-breaking progress means thousands more New Yorkers—older New Yorkers, working families, and our most vulnerable neighbors—now have a stable place to call home,” said HPD Commissioner Adolfo Carrion. “These aren’t just numbers; they represent dignity, security, and a future for the people who make this city run. We’re not just building housing—we’re building a stronger, more inclusive New York where everyone has a fair shot.”

Today’s new data shows that the Adams administration — for the second year in a row — continued to break records on both creating and connecting New Yorkers to affordable housing. In addition to the records listed above, HPD produced the most 421-A standalone units in a calendar year, with 5,931 units. Finally, HPD and the New York City Housing Development Construction (HDC) closed on financing for the creation of 27,620 affordable homes, including 14,145 in newly constructed housing and 13,475 in preservation of existing homes.

HPD directly connected more New Yorkers to homes than ever before in 2024, bringing nearly 14,654 households into affordable units this calendar year. Of that record number, 10,054 were through Housing Connect lotteries and 4,600 households left shelter to move into HPD homeless set aside units.

Thanks to the advocacy efforts from the Adams administration in Albany to create the Public Housing Preservation Trust and support for the Permanent Affordability Commitment Together (PACT) program, NYCHA has been able to invest in critically-needed repairs while simultaneously empowering residents. In 2024, NYCHA converted 3,887 apartments to Project-Based Section 8, enabling PACT partners to deliver $1.7 billion in capital repairs. Residents at Nostrand Houses, Bronx River Addition, and Coney Island I (Site 1B), also known as Unity Towers, totaling 1,597 apartments across 19 buildings, opted into the Public Housing Preservation Trust, which will unlock hundreds of millions of dollars for critical capital repairs.

Thanks to concerted rehousing efforts and the Adams administration’s wide-ranging reforms to strengthen access to City Fighting Homelessness and Eviction Prevention Supplement (CityFHEPS) vouchers, the New York City Department of Social Services also connected a record number of New Yorkers in shelter to subsidized permanent housing. More than 14,600 households moved out of shelter using a variety of rental subsidies, reflecting a 24 percent increase year over year. The majority of these households used CityFHEPS to obtain stable housing, reflecting a 40 percent increase in shelter exits using city-funded rental assistance. Finally, more than 4,400 households used CityFHEPS vouchers to stay in their homes and avoid shelter.

This year, Mayor Adams doubled down on his commitment to building more affordable housing. In his fourth State of the City address last month, Mayor Adams unveiled the “Manhattan Plan,” which will create 100,000 new homes in the borough, bringing the total number of homes in Manhattan to 1 million over the next decade. Additionally, Mayor Adams and HPD celebrated a $82 million investment to put homeownership within reach for more New Yorkers by expanding the HomeFirst Down Payment Assistance Program. Finally, the Adams administration has advanced several bold, forward-looking projects, including reimagining Gansevoort Square to build mixed-income housing, building 100 percent affordable housing at the Grand Concourse Library in the Bronx, and kicking off public review on Midtown South Mixed-Use plan to create nearly 10,000 homes — all follow-up announcements to this year’s State of the City.

Since entering office, Mayor Adams had made historic investments toward creating affordable housing and ensuring more New Yorkers have a place to call home. Last December, Mayor Adams celebrated the passage of “City of Yes for Housing Opportunity,” the most pro-housing proposal in city history that will build 80,000 new homes over 15 years and invest $5 billion towards critical infrastructure updates and housing. In June 2024, City Hall and the City Council agreed to an on-time, balanced, and fiscally-responsible $112.4 billion Fiscal Year (FY) 2025 Adopted Budget that invested $2 billion in capital funds across FY25 and FY26 to HPD and NYCHA’s capital budgets. In total, the Adams administration has committed $24.5 billion in housing capital in the current 10-year plan as the city faces a generational housing crisis. In July 2024, Mayor Adams announced back-to-back record breaking fiscal years in both creating and connecting New Yorkers to affordable housing. This past spring, the city celebrated the largest 100 percent affordable housing project in 40 years with the Willets Point transformation.

Further, the Adams administration is using every tool available to address the city’s housing crisis. Mayor Adams announced multiple new tools, including a $4 million state grant, to help New York City homeowners create accessory dwelling units that will not only help older adults afford to remain in the communities they call home, but also help build generational wealth.

Finally, Mayor Adams and members of his administration also?successfully advocated for new tools?in the 2024 New York state budget that will spur the creation of urgently-needed housing. These tools include a new tax incentive for multifamily rental construction, a tax incentive program to encourage office conversions to create more affordable units, lifting the arbitrary “floor-to-area ratio” cap that held back affordable housing production in certain high-demand areas of the city, and the ability to create a pilot program to legalize and make safe basement apartments.???

“In a city where half of renters are rent-burdened and construction is not keeping pace with demand, we must utilize every square inch of available space to build more affordable housing,” said New York State Assemblymember Jenifer Rajkumar. “I am proud of my work in our state capitol to jumpstart housing production, helping pass the 485-x tax credit, the updated FAR cap, and office conversions. Through our work, HPD has broken records for back-to-back years in production of units for the formerly homeless, senior housing, and supportive housing. That is thousands more families with roofs over their heads and the support they need to grow and thrive. I am continuing my work to expedite housing production, authoring bills to provide access to adjoining lots, construct 3D-printed housing, and create catalogs of pre-approved housing designs. Together, we will continue to produce the safe, affordable housing that all New Yorkers deserve.”

“As chair of the Subcommittee on Zoning and Franchises, I am committed to working collaboratively with my colleagues and the Administration to address our city’s housing crisis by prioritizing the creation of more affordable housing and expanding access for all New Yorkers,” said New York City Councilmember Kevin C. Riley. “These record-breaking efforts are a crucial step in building a more inclusive city, where housing is accessible to working families, seniors, and those who have experienced homelessness. We must continue to break down barriers in zoning and development to ensure that every New Yorker has the opportunity to live in safe, affordable, and supportive housing. The work being done today will shape the future of our communities and pave the way for a more equitable and sustainable New York City.”

“The New York Building Congress has been with the Adams administration from the jump in pushing more affordable housing production, and it’s exciting to see the Administration’s aggressive work pay constant dividends,” said Carlo A. Scissura, Esq., president and CEO, New York Building Congress. “From the moonshot goal, to City of Yes for Housing Opportunity, to this announcement, we’re honored to both cheer this advance for New Yorkers and start building these homes.”

“Nothing is more important to the health and vitality of our city than bringing more affordable housing to market,” said Jolie Milstein, CEO and president, NYSAFAH, the New York State Association for Affordable Housing.?“New Yorkers expect and deserve leaders who will focus like a laser on building and preserving affordable housing. The progress made over the last two years will help more parents raise their families in the city they love, provide support to vulnerable seniors, and offer lifechanging opportunities for formerly homeless residents. We look forward to working with city and state leaders to build on this progress.”

“New York’s affordable housing engine has kicked into high gear. We applaud the Adams administration on financing a record number of affordable apartments, including big numbers for the hardest kinds of units to deliver,” said David Schwartz, principal, Slate Property Group. “There’s been a sustained focus on the housing crisis from City Hall that’s changing laws and putting more projects in the ground than ever before.”

“Congratulations?to the dedicated housing team at HPD, HDC, and City Hall for making home in the city more affordable for almost 30,000 New York families this past year,” said Christie Peale, CEO/executive director, Center for NYC Neighborhoods, Inc.?“It is especially encouraging that the number of affordable homeownership opportunities created this year more than doubled last year’s production. New Yorkers all across the city are looking for that chance to own and stay rooted in our neighborhoods, and these investments make that possible.”

“Supportive housing is fundamental to ensuring that New Yorkers with significant unmet housing and service needs have access to safe, stable, and affordable homes,” said Pascale Leone, executive director, Supportive Housing Network of New York. “With New York City experiencing an unprecedented 59 percent increase in homelessness in just one year, we commend the city’s continued commitment to the most effective solution: supportive housing. For a second year in a row, the city has achieved record supportive housing production, delivering 2,761 critically needed units.? To meet this growing crisis head-on, we must maximize existing resources to create desperately needed congregate units under NYC 15/15. By doing so, we can sustain and surpass the past two year’s progress, ensuring that tenants receive the housing and services they need and deserve.”

“The Interfaith Assembly applauds the success of the Adams Administration and its extraordinary team for back to back record years of progress in producing housing units for formerly homeless New Yorkers, supportive units for New Yorkers with special needs, the most senior units, the most extremely low income units and record years of connecting New Yorkers to permanent housing, among other impressive achievements,” said Marc L. Greenberg, executive director, Interfaith Assembly on Homelessness and Housing. “And this, during a period when it grappled with an unprecedented migrant crisis. In the coming year,?we urge the mayor and his team to help even more of our brothers and sisters on our streets and in our shelters to find their way indoors in safe, decent, and dignified housing as contributing members of their communities. New York’s faith community stands ready to do our part to work with our government partners towards a day when homelessness is no longer a chronic reality but a short-term result of personal crisis.”

“Despite the challenges of tackling housing insecurity and homelessness, under the leadership of Mayor Eric Adams, we’ve seen back-to-back record-breaking years of moving people off the streets, out of shelters, and into homes. Each year, we are outpacing the last, proving that when you think outside the box and challenge the status quo, real progress happens,” said Shams DaBaron, ‘Da Housing Hero.’ “I am proud to be in partnership with an administration that works tirelessly to save lives and provide housing security to people like me. And I will continue doing everything in my power to support this mission—ensuring that our unsheltered brothers and sisters on the streets and subways, those in shelters or couch-surfing, the child aging out of foster care, the college student, gig workers, city workers and every New Yorker in need of affordable housing have a pathway to stability. Each year, we see real, measurable, and record-breaking progress in helping New Yorkers live better lives. With Mayor Eric Adams, his administration, advocates and partners like me, people who have experienced chronic homelessness and housing instability are able to not just survive but also rise and thrive.”

“Today’s announcement brings focus to the city’s housing supply crisis, including the dire need for units for our most vulnerable New Yorkers,” said James Whelan, president, Real Estate Board of New York.?“It is critically important that the public and private sectors have the right tools to build momentum and ramp up production of new housing.”?

“Habitat remains committed to affordable homeownership, and the CY24 housing production announcement reflects meaningful progress, with an increase in affordable homeownership housing production over the past year,” said Sabrina Lippman, CEO, Habitat for Humanity of New York City and Westchester County. “The Adams administration has prioritized tackling the housing crisis, understanding the vital importance affordable homeownership plays, and we look forward to working with the administration to continue this momentum.”

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