New York City is expanding its plan to convert basements, attics, and backyard structures into housing, aiming to support seniors and address the housing crisis with an additional $4 million for a pilot program and a goal of creating 500,000 new homes over the next decade.
New York City Expands Pilot Program to Convert Basements and Attics into Affordable Housing
According to Pix 11, New York City is working to solve its housing crisis by letting people turn basements, attics, and backyard buildings into new homes. Mayor Eric Adams and AARP advocates believe this will help seniors who struggle to afford to live in New York City. They think these extra units can provide rental income for homeowners or give families a way to care for elderly relatives in separate spaces.
To support this effort, the city is adding $4 million to a pilot program that helps with these home changes. The expanded program will allow up to 35 conversions, though no projects have started yet. The money will also fund a new online portal to make it easier for people to apply for these home modifications.
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4 Million Investment: New York City Expands Basement, Attic, and Backyard Conversion Pilot to Tackle Housing Crisis, Create 500,000 New Homes by 2030 (PHOTO: Commercial Observer)
Mayor Adams’ Plan: 500,000 New Homes in 10 Years Through Housing Conversions and Zoning Changes
New York City Mayor Adams aims to create 500,000 new homes in the next ten years. By allowing these conversions and changing zoning laws, he hopes to make housing more affordable and available for city residents.
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