Mayor de Blasio unveils affordable housing plan - New York News

Mayor de Blasio unveils affordable housing plan

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New York City Mayor Bill de Blasio on Monday announced his $41 billion plan to build and preserve 200,000 units of affordable housing in the next 10 years.

"There's an inequality crisis in this city and in this nation," de Blasio said.

We toured the building used as one the the backdrops of the mayor's announcement. Deplorable conditions led the city to take it over. 120,000 of the housing units in the plan are preservation projects. Either way, it'll take some time to repair -- the units and the crisis alike.

Our question: how long do you think it will take before New Yorkers feel the benefits of this initiative?

De Blasio answered that some will start feeling the increase this year, then the year after, and more so the years after that.

The mayor's program anticipates about $8.2 billion in city money with state, federal and private funds covering the rest.

With the AP

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