LETTER FROM THE PRESIDENT & CEO
The Housing Partnership Entered 2023 With Strong Momentum From 2022 Accomplishments
Dear Friends and Partners,
We have always closely mirrored the affordable housing strategies of the City and State of New York. In the 1980s era of "urban flight," when New York City had tens of thousands of surplus properties available for development, the Partnership worked diligently, leading public-private partnerships to use these sites to develop affordable rental and for-sale housing. The success of those historic Partnership efforts is now evident in the form of economically robust and socially vibrant neighborhoods with tangible population growth. The prosperity that New York enjoys today would not have been possible without the sustained work of the Housing Partnership.
With new times, however, come new challenges. 2022 saw New York facing a worsening crisis of housing affordability, with demand for affordable housing even further outstripping the supply. New York also is not exempt from the impact of inflation on the costs of housing construction labor and materials as well as the increased interest rates and supply chain disruptions that make it harder to build and preserve affordable housing.
We have always closely mirrored the affordable housing strategies of the City and State of New York. In the 1980s era of "urban flight," when New York City had tens of thousands of surplus properties available for development, the Partnership worked diligently, leading public-private partnerships to use these sites to develop affordable rental and for-sale housing. The success of those historic Partnership efforts is now evident in the form of economically robust and socially vibrant neighborhoods with tangible population growth. The prosperity that New York enjoys today would not have been possible without the sustained work of the Housing Partnership.
With new times, however, come new challenges. 2022 saw New York facing a worsening crisis of housing affordability, with demand for affordable housing even further outstripping the supply. New York also is not exempt from the impact of inflation on the costs of housing construction labor and materials as well as the increased interest rates and supply chain disruptions that make it harder to build and preserve affordable housing. Additionally, nearly 40,000 immigrant asylum seekers have arrived in the city, adding to housing demand pressure.
The Housing Partnership in 2023 will continue to focus on several key strategies:
- Coordinate with city, state, and private sector partners to expand new and renewed affordable housing
- Increase residents' knowledge for finding affordable rental and homeownership opportunities
- Expand government advocacy for quality, safe, affordable housing creation
- Maximize efficiency during inflationary pressures
We wish you all the best in 2023 and look forward to strengthening our team and continuing to address New York's affordable housing shortage.
Jamie A. Smarr, President & CEO
