It may not be as cool as the new Apple Watch, but it’s the first real option for consumers to get a real sense of what the new NYHC Housing Connectors could mean for their city.
The NYC Housing Connections are a network of apartment buildings in Manhattan, Brooklyn, and Queens that provide affordable housing for low-income people.
The project is the largest in the US and the largest project of its kind in the world.
NYHC has received more than $1 billion in federal, state, and local money for the project, which will provide approximately 50,000 housing units over the next five years.
In terms of its construction, the project is actually a bit more complicated than it looks on paper.
The New York City Housing Authority is a federally funded organization, meaning that they’re able to make some significant investments into a project that’s far from completion.
According to the NYCHA, the housing authority will invest $6.5 billion into the project over the course of its life, including $3.5 million for the development and construction of the first phase.
And, the NYHC also has an additional $1.1 billion for other projects that will be completed in the coming years, including projects that provide permanent housing to the elderly and disabled, provide food assistance to low- and moderate-income households, and provide community-based employment.
That’s just the beginning.
With these funds, the city will be able to pay for construction, construction and maintenance of the project.
That money will allow the project to continue, as well as expand the number of affordable units in the project that are currently available.
NYCHA CEO Scott Harshbarger told Business Insider in an email that the agency plans to invest $3 billion in the first three years of construction, $2 billion in 2020 and $1,000 for each year thereafter.
“These funds will allow NYHC to begin construction on the second phase of the NYC HousingConnects and the expansion of the NYCHC’s Community Housing Program, which is designed to help residents gain a foothold in a city that can offer them stable and affordable housing,” Harshboer said.
Harshbager also said that the project’s total construction costs could be in the range of $5 billion.
“While this is a huge investment for New York, it is the only major housing investment that NYCHA has ever made, and it will provide additional opportunities for NYCHA to expand our existing workforce and expand the workforce of its partners,” he added.
“These are very significant investments and we are committed to making them.”
As of September 1, the NYCHC was able to fund almost half of the $1 trillion total construction cost.
As part of the housing construction, a new apartment building has been built in the heart of the city.
In addition to apartments, the entire project is also going to include apartments and retail space.
For people who are currently living in apartments, NYCHA is also offering housing subsidies to help them move into the new apartment buildings.
According to NYCHA’s website, the first units in each building are expected to be ready for occupancy in 2021.
A few apartments will also be built for low income people who will be renting.
As part, the City is also building out a new library that will provide access to the NYCCHC website and other public libraries across the city, as part of its mission to provide affordable, high quality and safe public access.
The New York Health Department also announced that the New Yorkers health department will be offering housing vouchers to eligible low income New Yorkers.
When it comes to the future of the projects, Harshbaer said that NYHC is committed to providing residents with more affordable housing options.
“NYHC is focused on expanding the NY HousingConnect’s network of affordable housing to other parts of the country, including New York State,” he said.
“We are also making investments in our NYC HousingCoordinators to help New Yorkers connect with housing and employment opportunities.”