In 2024, our advocacy efforts made remarkable strides in securing funding and enacting policies that promote housing for all. Your involvement was crucial in these victories, and we are excited to build on this momentum.
✨Significant increased investment in affordable homeownership: The state budgets included two meaningful increased investments in the creation of affordable homeownership:
➡ Affordable Housing Corporation funding increase: Habitat NYC and Westchester successfully advocated for increasing the appropriations for AHC from the historical $26M allocation, resulting in a 56% increase to $40.5M
➡ Established a new New York State Housing for the Future Homeownership Program: Allocated $75M to create permanently affordable, limited-equity cooperatives marking a significant investment in multi-family affordable homeownership
✨ We rallied and advocated for the Homes Now, Homes for Generations campaign focused on increasing City funding for the Open Door homeownership program and Neighborhood Pillars program. With the city budget originally including no new capital funding, robust advocacy ultimately secured an additional $2B for affordable housing. The Open Door homeownership subsidy program will receive $110M over two years, more than doubling current funding. And Neighborhood Pillars, paused since 2019, will be relaunched with $30M over two years, to help mission-driven developers purchase and rehabilitate affordable housing.
✨The New York City Council passed the City of Yes for Housing Opportunity—the most pro-housing plan in New York City history. Over the next 15 years, the zoning reforms that comprise City of Yes will allow for the creation of more than 80,000 units.
