New York City officials announce $500M investment for affordable housing
NEW YORK (PIX11) -- To address the housing crisis, officials announced Monday morning an investment of $500 million to construct affordable housing throughout New York City.
Funds were generated from lease revenue acquired by the Battery Park City Authority, a New York state public benefit corporation that operates and maintains Battery Park City.
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To date, the BPCA has contributed $461 million for affordable housing units, helping to build or preserve over 10,000 units.
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