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Mamdani promises 200,000 new homes and 200,000 saved, but the $22 billion plan is only a starting point

Mayor Zohran Mamdani unveiled a $22 billion housing plan targeting 200,000 new and 200,000 preserved affordable homes in NYC, though funding gaps and reliance on private development raise questions about delivery.

Mamdani promises 200,000 new homes and 200,000 saved, but the $22 billion plan is only a starting point
New York City Hall, where major policy initiatives like the 'Block by Block' housing plan are often announced. The building stands as a backdrop to citywide efforts to address housing shortages.
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Mayor Zohran Mamdani unveiled “Block by Block,” a 112-page affordable housing plan, in late May, promising what he calls “two of the most ambitious housing targets in modern New York City history”: 200,000 new affordable homes built and another 200,000 preserved across New York City over the next decade.

Mamdani’s executive budget for fiscal years 2026 through 2030 allocates $22 billion in capital funding to back the plan: $7 billion for new affordable housing development, $4.9 billion for preservation, and $5.6 billion for the New York City Housing Authority (NYCHA), the city’s public housing authority. The plan also promises what it describes as “some of the strongest and most expansive tenant protections” in the United States and a “transformative” investment in public housing.

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Featured image: Courtesy thenyhc.org

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