City says it will spend $500M on new housing for seniors

The de Blasio administration says it will build thousands of affordable housing units for seniors on vacant parking lots, green spaces and other unused land, in the hope of chipping away at a public housing waitlist that currently exceeds 200,000 families. The city made an initial commitment of $500 million to build a “few thousand” units in its proposed $89 billion budget released this week, according to the Wall Street Journal. The news comes after […]

Source: Real Estate

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