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Website. www .nyc .gov /hpd. The Department of Housing Preservation and Development ( HPD) is the department of the government of New York City [1] responsible for developing and maintaining the city's stock of affordable housing. Its regulations are compiled in title 28 of the New York City Rules. The Department is headed by a Commissioner ...
The New York State Division of Housing and Community Renewal ( DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
The New York City Housing Authority ( NYCHA) is a public development corporation which provides public housing in New York City, and is the largest public housing authority in North America. Created in 1934 as the first agency of its kind in the United States, it aims to provide decent, affordable housing for low- and moderate-income New ...
421-a tax exemption. The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York ...
Across New York City’s five boroughs in 2023, rent rates grew an average of 8.6 percent compared to just 1.2 percent for wages — the largest gap among the country’s 50 biggest metropolitan ...
The housing shortage in New York is driven by a lack of housing supply. Home construction in New York City lags far behind other major American cities. [4] Since 2010, housing supply in New York City has increased by 4% while jobs have increased by 22%. [4] Restrictive zoning regulations are a key contributor to the undersupply of housing, as ...
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