City’s $500M commitment to affordable senior housing questioned

<div class="field field-name-field-news-source field-type-taxonomy-term-reference field-label-hidden"><div class="field-items"><div class="field-item even"><a href="/news-source/curbedcom" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Curbed.com</a></div></div></div><div class="field field-name-field-news-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even">Caroline Spivack</div></div></div><div class="field field-name-field-news-date field-type-datetime field-label-inline clearfix"><div class="field-label">Publication Date:&nbsp;</div><div class="field-items"><div class="field-item even"><span class="date-display-single" property="dc:date" datatype="xsd:dateTime" content="2019-04-12T00:00:00-04:00">Friday, April 12, 2019</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded">Nearly a year ago, Mayor Bill de Blasio promised $500 million to build low-income housing for seniors. Now, the city is walking back that figure, which it says merely reflects an estimate of the total resources needed to fund the senior developments—only $100 million in direct city dollars will actually go toward building those apartments. The rest of the housing will be funded through subsidies, tax credits, and borrowing off of revenue expected from rent subsidized by the federal Section 8 program, according to a mayoral spokesperson.</div></div></div><div class="field field-name-field-news-link field-type-link-field field-label-above"><div class="field-label">News Link:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="https://ny.curbed.com/2019/4/12/18306625/nyc-bill-de-blasio-affordable-senior-housing-commitment-questioned" target="_blank">https://ny.curbed.com/2019/4/12/18306625/nyc-bill-de-blasio-affordable-senior-ho...</a></div></div></div><div class="field field-name-field-news-category field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">News Media Category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/media-news-category/housing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Housing</a></div></div></div><div class="field field-name-break field-type-ds field-label-hidden"><div class="field-items"><div class="field-item even"><p></p> </div></div></div>