Last week, Governor Kathy Hochul announced $412 million in funding to either build or preserve 1,100 affordable homes across the state - the lion's share of which will be located in New York City.

“My administration is committed to tackling our state’s housing shortage head on and expanding opportunities in communities big or small,” said Hochul in a news release. “This funding will generate housing opportunities that are affordable, modern, sustainable, and offer the types of services that can improve the lives of more New Yorkers.”

Of that total, roughly $359 million of bounds and subsidies through New York State Homes and Community Renewal will go toward four projects located in Brooklyn and the Bronx. They include:


  • $170.3 million for the new construction of Innovative Urban Village Phase 1a to create 385 affordable homes in East New York, Brooklyn. The project is the first phase of a comprehensive redevelopment of the Christian Cultural Center’s 10-acre campus and will include 94 supportive units for homeless families. The development team is a joint partnership between The Gotham Organization, Urban Living Alternatives, and Monadnock Development, LLC.
  • $82.8 million for the new construction of Marcus Garvey Extension Phase 2 to create 178 affordable homes in Brownsville, Brooklyn. The development will be constructed on a vacant parking lot on the campus of Marcus Garvey Apartments, an existing Mitchell-Lama housing complex. Eighty-eight apartments will be reserved for individuals in need of supportive services, which will be provided on-site by the Osborne Association. The developer is L+M Development Partners.


  • $54.1 million for the new construction of La Olazul to create 115 affordable homes in the Mount Hope section of the Bronx. The 13-story building along Jerome Avenue will include 69 supportive units for homeless adults and families, and over 11,000 square feet of retail and community space. The developers are Westhab, Inc. and Vaya Development LLC.
  • $51.8 million for the new construction of Jericho 158 to create 129 affordable homes in the Melrose section of the Bronx. Jericho 158 will consist of two buildings with a total of 129 affordable apartments, including 78 supportive units for homeless adults and young adults, and 42,000 square feet of community space. The developers are The Jericho Project and Procida Development Group.