New York has a housing crisis. How would the mayoral candidates remedy this?

The winner of the Democratic primary is almost certain to become the city’s next mayor. And while the main candidates have indicated with their plans that they will build on Mr. de Blasio’s strategies, they have also criticized the mayor, implicitly and explicitly, for not providing sufficient financial support to New Yorkers. poorer.

In one report released this year, the Community Service Society, an anti-poverty group, said de Blasio’s administration had dramatically increased investment in affordable housing. But most of the effort, the group said, was directed towards those earning at least $ 53,700 for a family of three, which is half the region’s median income – when the need was greatest among those. who earned less.

Ms Garcia said she would borrow and use state incentives and federal money to help build or preserve 50,000 rent-stabilized homes that would be affordable for people earning less than half of the median income of the region, as well as 10,000 housing units that incorporated services for the homeless. She didn’t offer a price for her plan, but the money would be used to build new apartments, buy existing buildings, or provide grants and incentives to nonprofit or private developers.

McGuire said he would borrow $ 2.5 billion a year over eight years, which would help finance the construction of more than 350,000 homes. Most of that money would go towards grants and incentives for developers to include rent-stabilized units in mixed-income developments affordable for those earning less than half the median income. He said he would spend up to $ 500 million to create about 3,000 affordable housing units for low-income seniors.

“It’s a change from what we have built in recent years,” he said.

Mr. Yang and Mr. Donovan said they would spend billions of dollars a year to build or maintain 30,000 homes for families of different incomes.

Ms Wiley focuses on handing out over $ 1.5 billion in grants to New Yorkers earning less than half of median income to ensure they don’t pay more than 30% of their income in rent . Initially, she said, federal coronavirus aid would cover the grants.

She said the program would help prevent people from becoming homeless, by freeing up money that would have gone to shelters to fund grants instead.

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