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    Saturday, May 11, 2024

    NYC sets affordable homes record: 24,500 financed in 2017

    NEW YORK — Officials say New York City created or preserved over 24,500 affordable homes last year, breaking a record for the nation's biggest city.

    Mayor Bill de Blasio is announcing the statistic Tuesday. The previous record was just over 23,100, set in 1989.

    De Blasio has made affordable housing a centerpiece of his two mayoral campaigns. The Democrat was re-elected last year.

    The city invested over $1 billion in affordable apartments last year. The effort mostly preserved affordable homes — over 17,300 of them. Another 7,200 new ones were created.

    Nearly half the homes financed rent at levels affordable to an individual making about $33,400 per year, or $43,000 for a family of three.

    The city has preserved or created over 87,500 affordable homes in the last four years.

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