The New York City Council’s approval of the 'City of Yes' plan marks a historic move to create 80,000 new homes in response to a pressing housing crisis.
Approved with a 31-20 vote, the plan is Mayor Adams's top priority, aiming for sustainable housing solutions amid skyrocketing rents and unprecedented low vacancy rates.
City officials recognized the urgency, as homelessness rises and half a million households allocate at least half their income on rent, necessitating actionable solutions.
To gain support, Mayor Adams’s administration agreed to invest $5 billion in affordable housing and scaled back some ambitious proposals to make a broader impact.
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