$60m housing investment announced in NYC
When we came to office two years ago, we had a mission of protecting public safety, rebuilding economy and making NYC more livable for working class, says Mayor Eric Adams.
NEW YORK: New York City Mayor Eric Adams, NYC Comptroller Brad Lander, NYC Public Advocate Jumaane Williams and NYC Employees’ Retirement System (NYCERS) trustees announced an investment of 60 million dollars to ensure rent-stabilized housing units in the New York City.
The investment is a joint venture of Community Preservation Corporation (CPC) and Related Fund Management (RFM) and will be the largest one to keep rentals stabilized for working people and retired persons.
Speaking on the occasion, Mayor Eric Adams said the $60m investment from NYCERS pension fund would go toward preserving 35,000 units of affordable housing and. He said the housing was critical to making the city more affordable and livable for working class. He said he was proud of the project wanted to thank everyone who played a role in making it possible.
“When we came to office two years ago, we had a mission of protecting public safety, rebuilding economy and making NYC more livable for the working class. This investment is a step toward all three of those goals.”
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