Mayor de Blasio on Monday rolled out his $41.1 billion blueprint to build and refurbish 200,000 units of affordable housing, in a project he described as the "central pillar in the plan against inequality."
The mayor's ambitious scheme calls for building 80,000 new units and preserving 120,000 spots over the next 10 years.
To pay for all these apartments, de Blasio is counting on $30 billion from private investors, $2.9 billion in state and federal support and $8.2 billion from the city.
"It's the largest, fastest, affordable housing plan attempted at the local level," said de Blasio, calling his housing plan "a central pillar in the plan against inequality."
"We know if we're going to address income inequality … we have to go straight at the biggest expense every New Yorker faces," the mayor said.
A key part of the plan is a new policy requiring that all new housing developments set aside a portion for moderate and low-income tenants.
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