
In a move firmly placing housing at the forefront of New York City's policy agenda, Mayor Eric Adams has officially exceeded the targets of his administration's "24 in 24" affordable housing initiative. According to a recent announcement reported by the City of New York's official website, the plan initially aimed to advance 24 affordable housing projects on public sites in 2024 but ultimately saw the completion or advancement of 26 endeavors, much to the appreciation of housing advocates citywide.
"Last year in our State of the City, we made a pledge to New Yorkers to use every tool in our toolbox to build the affordable housing that our city deserves. Since then, we have passed the most pro-housing zoning proposal in city history, committed a record $26 billion in housing capital, broke records again in building and connecting New Yorkers to affordable housing, and, today we fulfilled another pledge. We surpassed our ambitious ‘24 in 24’ plan, delivering 26 projects across all five boroughs to face this generational housing crisis head on,” Mayor Adams informed in a statement obtained by the City of New York. This exceeds the commitment laid out in the 2024 State of the City address, intending to directly confront a 1.4 percent rental vacancy rate that underscores a deep-seated housing scarcity.
The "24 in 24" initiative is an aspect of broader efforts by the Adams administration to alleviate the city's housing crisis. Notable aspects of the strategy include the "City of Yes for Housing Opportunity" zoning proposal, which promises to create more housing than any other rezoning effort in the past half-century, including during the tenures of former Mayors Bloomberg and de Blasio. These efforts sit alongside historical investments totaling $26 billion over 10 years and the introduction of new tools to assist New Yorkers in making housing more attainable and sustainable.
Developments have materialized across all five boroughs. Notably, the New York City Department of Housing Preservation and Development (HPD) has undertaken projects such as 351 Powers Avenue in the Bronx with plans for about 90 housing units, while larger projects like the transformation of Willets Point into a 100 percent affordable housing development spotlight innovation in urban planning. The New York City Housing Authority (NYCHA) also contributed significantly, particularly with the closing on financing to preserve nearly a thousand units through initiatives like the Permanent Affordability Commitment Together (PACT) program in various locations.
Legislators praised the city's housing initiatives. New York State Senator Roxanne J. Persaud lauded the achievement, stating to the City of New York: "This achievement not only fulfills a critical promise to New Yorkers but also sets a bold precedent in addressing the city's housing crisis." Meanwhile, State Assemblymember Jenifer Rajkumar underscored that the success of “24 in 24” meant "thousands more New Yorkers living with safety, dignity, and stability without breaking the bank," as relayed in the city's official announcement. On top of this, the city's efforts to slash bureaucratic red tape for housing projects via streamlined review processes and interagency coordination signify a robust and multi-faceted approach to a persistent urban challenge.