Affordable Housing
IN THE PAST DECADE AND A HALF New York City’s economy and population has grown rapidly, and with it has grown the need for new housing. The overall housing shortage in New York is currently estimated at between 200,000 and 300,000 units, and that scarcity has compounded the already chronic lack of affordable housing. CPC and CPCR have been active leaders in addressing this crisis.
The New Domino is a unique opportunity to provide urgently-needed affordable housing to the Williamsburg community and we have an unwavering commitment to provide more affordable housing than what is required at other waterfront sites.
At the New Domino, we intend to develop at least 30% of the housing units as affordable housing This will include a portion of rental housing for low-income households at or below 30% of the Area Median Income (AMI); a second portion of rental housing for median income households at or below 60% AMI; a portion for senior housing at 50% AMI and homeownership units at the City’s Partnership Program affordability levels.
CPC and CPCR’s top priority has been and will continue to be to preserve, improve and expand the affordable housing stock in New York.
