New York Housing Conference released a new brief that evaluates how City of Yes for Housing Opportunity will create affordability for NYC renters and homeowners and examined how the proposals can be expected to work across NYC and with other tax and housing programs. Given the scale of the crisis, NYHC acknowledges the importance of and continues to advocate for additional affordable housing investments, processing improvements and policy changes to further aid affordability.

The brief finds that City of Yes will help tackle New York City’s affordability crisis because:

  • City of Yes will directly create tens of thousands of affordable rental housing units through UAP and by leveraging real estate tax incentive and housing finance programs.
  • City of Yes will also create new affordable homeownership opportunities in outer boroughs.
  • Additionally, by increasing the general housing supply, City of Yes will help:
    • slow down the rate of rent increases
    • increase effectiveness of tools to combat homelessness

Read the full brief here.