Tax Credits Awarded to 13 Affordable Housing Projects to Generate 1,400 Jobs
November 28, 2011
Around Town – By Neal Tepel
“The creation and preservation of affordable housing is an economic engine for the City, strengthening our neighborhoods and providing housing for New Yorkers with a range of incomes,” said Mayor Bloomberg. “These tax credits allow us to leverage private sector investment to fund 737 units in 13 projects, creating nearly 1,400 construction and construction-related jobs.”
The 737 units of affordable housing supported by the Low Income Housing Tax Credits awards will be developed under Mayor Bloomberg’s New Housing Marketplace Plan (NHMP), an multi- billion dollar initiative to finance 165,000 units of affordable housing for half a million New Yorkers. To date, the plan has funded the creation or preservation of over 125,700 units of affordable housing across the five boroughs.