Affordable-Housing Fund Gets $350 Million as Part of 10-Year Apartment Plan

Aug. 6, 2014 — OK, so it's a 10-year plan and nothing might be available immediately. But this is New York, where we can wait 10 years on a co-op / condo waiting list for storage-room space or a parking spot. Ten years? We've eaten knishes older than that. So anyway, New York City Mayor Bill de Blasio, Comptroller Scott Stringer and others have announced that the affordable-housing lender Community Preservation Corp. is receiving $350 million to invest in struggling neighborhoods, reports The Wall Street Journal, Crain's New York Business and other publications The public-private partnership with several financial institutions will provide 7,500 units in mostly low-rise buildings to start, as part of the City's $41 billion plan for 200,000 new or "preserved" — whatever that loophole-sounding word means — affordable apartment in a decade. And none of them will have a "poor door."