Mayor Bill de Blasio revealed the largest, most ambitious affordable housing plan in United States history earlier today, designating a total of $41 billion to create 80,000 new units and 120,000 preserved units that will be considered "affordable housing," reports The Gothamist.
The plan claims to:
"To promote long-term community revitalization and economic diversity, we will pilot a new mixed income program that targets 20 percent of a project’s units to low-income households, 30 percent for moderate income households, and 50 percent for middle-income households," the plan states. "Producing middle-income housing can also be a ﬁnance tool to cross-subsidize more deeply affordable units."
Source: The Gothamist
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