Cuomo Touts $1B Affordable Housing Plan

Although his call for tougher gun laws made the headlines, Gov. Andrew Cuomo had plenty of real estate-related agenda items in his annual State of the State address Wednesday. Along with calling for more casinos upstate but not in New York City, the governor proposed a $1-billion plan to produce or preserve more than 14,000 units of affordable housing statewide over the next five years.

Cuomo said the plan, dubbed House NY, would be paid for “by reallocating and making better use of existing funds.” Elsewhere in his address, the governor said there would be no new taxes this year.

According to NY Rising, a 326-page plan released in conjunction with his annual address, Cuomo envisions Housing NY creating or preserving estimated 5,600 housing units “by investing in the most successful affordable housing programs and creating new programs to meet unfilled needs.”



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