"The Neighborhood Builders Fast Track program will allow the Department of Housing Preservation and Development to pre-qualify affordable housing developers for certain projects, shortening the pre-development request-for-proposals process from about 18 months to 10 months."
"Mamdani stated that, combined with the administration's expedited land-use changes approved by voters last year, the city could reduce the time it takes to move affordable housing forward by as much as 2 1/2 years."
"The first three sites expected to use the faster track could produce as many as 300 affordable homes, with about 100 of those being affordable homeownership opportunities at the Bronx and Queens sites."
Mayor Zohran Mamdani's administration launched the Neighborhood Builders Fast Track program to accelerate affordable housing development on city-owned land. This initiative could reduce the selection process for builders from 18 months to 10 months, significantly shortening the overall pre-development timeline. The program aims to create a pre-qualified roster of developers, allowing for faster project initiation. The first three sites identified could yield approximately 300 affordable homes, including 100 homeownership opportunities in the Bronx and Queens.
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