New NYC budget includes $2 billion for public, affordable housing: What it means

NEW YORK (PIX11) – New York City Mayor Eric Adams and the City Council agreed on a record-breaking budget deal Sunday that allocates $2 billion toward public and affordable housing.

Adams is scheduled to hold a news conference on Tuesday to celebrate the investment.

He previously said making the city more livable starts with ensuring New Yorkers can afford to have a roof over their head and feel safe in their own home. City Hall is restoring $7 million for the unarmed security guard program in 55 NYCHA buildings.

The Adams administration has a goal of building 500,000 new homes by 2032, but will immediately focus on homeless youth needs, food pantries and investments in neighborhood pillars and Open Door – a housing prevention and development program for housing rehabs and shared equity co-ops.

"The budget continues our support for the shelter-to-housing plan," Adams said. "Funds housing assistance for homeless youths so they have access to safe, permanent housing. It protects 700 food pantries across the city."

Adams initially sought a housing bump of $3 billion, but the City Council argued the mayor was being too conservative in projecting future revenue.