New York Affordable Housing Program Set To Expire

A program that has supported the construction of thousands of affordable units could lapse if state lawmakers don’t approve an extension or revision.

2 minute read

May 25, 2022, 6:00 AM PDT

By Diana Ionescu @aworkoffiction


Manhattan Construction

JimboMcKimbo / Shutterstock

A New York program designed to increase housing affordability could end “amid fierce opposition from lefties and ineffective pushback from City Hall’s dysfunctional statehouse operation, which has failed to reach out to key lawmakers.” As reported by Nolan Hicks and Zach Williams in the New York Post, “The 421-a program, set to expire in June, provides developers with city property tax abatements worth an estimated $1.8 billion in exchange for agreeing to limit and regulate the rents on a portion of the apartments in the new buildings they erect.”

According to former commissioner and deputy mayor Vicki Been, the program helped create around 8,000 affordable housing units in the last ten years. “All told, 421-a either partially or completely funded 4,030 of the 4,279 newly rent-stabilized apartments in New York City in 2020, figures from the Rent Guidelines Board show.” Been notes that the program has also been successful in promoting construction of affordable apartments in wealthier parts of the city, unlike units built under other programs that offer direct subsidies. 

“But progressives have long had the program in their sights, angered over its very structure and provisions that allow developers to set rents for some of the apartments for households with incomes that exceed the city average by as much as 30%.” City Comptroller Brad Lander says “state lawmakers should let the program expire and embark on an overhaul of the property tax system that treats rentals more fairly, attempts at which have repeatedly failed.”

Sunday, May 22, 2022 in New York Post

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 16, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Blue and silver Amtrak train with vibrant green and yellow foliage in background.

Amtrak Cutting Jobs, Funding to High-Speed Rail

The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

July 14, 2025 - Smart Cities Dive

Worker in yellow safety vest and hard hat looks up at servers in data center.

Ohio Forces Data Centers to Prepay for Power

Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

July 18 - Inside Climate News

Former MARTA CEO Collie Greenwood standing in front of MARTA HQ with blurred MARTA sign visible in background.

MARTA CEO Steps Down Amid Citizenship Concerns

MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

July 18 - WABE

Rendering of proposed protected bikeway in Santa Clara, California.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant

A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.

July 17 - San José Spotlight