Democratic candidate for mayor Bill Thompson announced his affordable housing plan while speaking in the Crown Heights section of Brooklyn earlier today.
Thompson’s four-point plan aims to create and preserve over 120,000 units of affordable housing for working families over the next eight years.
The former comptroller didn’t mention how much his plan will cost, but he did touch on how his administration would pay for it.
"We will use low-income housing tax credits, resources from various federal programs as well as state incentives and state initiatives,” he said. “Together with other federal, state and city resources, we will maximize more than five billion dollars in funding."
"Affordable housing is a crisis — and the reality is that many working families are getting priced out of the city they love," Thompson said. “Our city cannot thrive by only meeting the needs of the very wealthy few; we’ve got to create a city for all New Yorkers."
Earlier this month, a coalition of the city’s largest housing groups partnered with local businesses and developers on a plan they want the next mayor to adopt to create and preserve 150,000 units of affordable housing.