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Council Member Salamanca introduces hearing on Intro 958 to increase affordable homeownership

0:14:20

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144 sec

Council Member Rafael Salamanca, Jr. introduces a hearing on Intro 958, sponsored by Speaker Adrienne Adams, which aims to increase affordable homeownership opportunities in New York City. He outlines the current state of homeownership in the city, highlighting racial disparities and the challenges faced by potential homeowners due to rising prices.

  • Intro 958 would require HPD to approximately double the rate of new affordable homeownership construction.
  • The hearing aims to learn more about HPD's approach to supporting homeownership and gather feedback on the proposed framework.
  • Salamanca emphasizes the importance of homeownership for family stability, neighborhood stability, and intergenerational wealth building.