Housing & Community Development
The Bronx is experiencing a wave of development not seen in decades. Since 2002 almost $4 billion has been invested in housing, creating over 35,000 dwelling units. The Borough President has focused on promoting mixed-use and mixed-income development, and increasing homeownership.
The Borough President's Office issued two housing reports in 2009. Download the reports here:
Investment in affordable housing has been a key focus the of Borough President. Through various partnerships, the Borough President’s Office has facilitated over 5,000 affordable housing units by allocating $43 million to 57 housing developments.
Preserving Mitchell Lama Housing
In recent years the number of affordable, middle income rental apartments provided by the Mitchell Lama Program has decreased as owners have increasingly sold units at market rates to realize the higher profits allowed when government benefits expire. In response, the Borough President formed the Bronx Mitchell Lama Task Force to educate and empower residents to lobby for fair housing legislation, hold owners and oversight agencies accountable, and encourage residents to organize tenant associations and work with housing advocates.
Promoting Affordable Housing Development
New York City is experiencing unprecedented levels of affordable housing development, but with the shortage of available land and rising construction costs the city must seek new types of partnerships with private developers. In 2006, the Borough President's Office hosted Market Approaches to Affordable Housing. This three day event, aimed at the private development community, focused on critical issues for creating and preserving affordable housing.
Homeownership helps stabilize neighborhoods and strengthen communities. The Borough President's Office has worked to increase the number of homeowners, by empowering residents with greater resources and financial education.
To provide greater financial education to potential and current homeowners, the Borough President created the Annual Homebuyers/Homeowners Fair. This annual fair is the largest fair of its kind in the city. It brings together financial institutions, real estate professionals, government agencies and non-profits to educate consumers on the home-buying process and how to retain their homes.
In response to the nation’s mortgage foreclosure and sub-prime crisis, the Borough President convened a Foreclosure Prevention Summit in February 2008 with officials from housing, regulatory and government institutions to identify financial and educational resources for helping affected homeowners. Subsequent to the Summit, the Borough President’s Office created a Foreclosure Prevention Resource Guide to assist residents who have either fallen behind in mortgage payments or who are at risk of losing their homes.
Housing for Seniors
The Bronx’s senior population is expected to increase 30% by 2030; the borough and the City must increase the housing options for older residents. In March 2008, the Borough President's Office held a Senior Housing Development Workshop with professionals from government, private lending institutions and not-for-profit developers to discuss the processes, capital needs, common pitfalls and available resources for producing senior housing. The event’s two workshops, Rehabilitation and Refinancing of Senior Housing, and 202 Housing and New Construction Senior Housing, focused on preserving current supply and producing new senior housing stock. Borough President Carrion is dedicated to assuring that the borough’s seniors have safe, comfortable homes, and accordingly has invested over $20 million in 1,600 new housing units for seniors.