We’ve been busy this summer and we’re excited to share it all with you! Please read on for our summer newsletter.
Fall Conference: The Future of Affordable Homeownership in NYC
What is the state of affordable homeownership today? Join 300 of your peers in the fields of housing, finance, academia, government, and more to talk about what challenges New York City homeowners are facing and hear about new and innovative ways we can help keep working families in New York.
The conference will also feature the release of an exciting policy platform developed by the Coalition for Affordable Homes, a new coalition of community groups united around a policy agenda that champions affordable homeownership.
Updates from Our Blog
Our New Look
Notice anything different? This month, we updated our website with a new logo and a new look that we’ve been working on for some time now — we’re excited to share it with you at long last! In developing our new look, we thought hard about what we wanted to convey. This was not just a cosmetic process: we wanted to make sure that our vision, mission, and values are a part of everything that we do.
Thank you, City Council! Increased Funding to Fight Foreclosure in NYC
Homeowners at risk of foreclosure got a big boost in this year’s City budget, which went into effect July 1st. This year, the New York City Council increased funding for at-risk homeowners to $2 million, an increase of $1.25 million from last year’s budget. This new funding will allow the Center to expand programming for seniors facing foreclosure, and fund innovative new initiatives to help homeowners across the city.
Educating Homeowners on the Rezoning Plan
Achieving Mayor de Blasio’s ambitious goal of creating 80,000 new affordable housing units within the next decade will require significant amounts of newly constructed residential buildings, as well as places to put them. To this end, the de Blasio administration has proposed the rezoning of 15 neighborhoods throughout New York City to allow for greater density. While the Housing Plan will create much-needed affordable housing, the prospect of rezoning can also cause trepidation among current neighborhood residents. To further explore how rezonings will impact homeowners, the Center held a convening with our network on August 4 to discuss homeowner involvement and education in the rezoning process.
The Center in the News
Center to Lead Major New Resiliency Program for the Governor’s Office of Storm Recovery, Press Release
This August, the Center was selected by the Governor’s Office of Storm Recovery to spearhead a pilot program to provide homeowner assistance to make their homes more resilient in seven New York Rising Community Reconstruction communities in New York City. The program will provide residential resiliency audits, retrofitting advice, and financial counseling to eligible homeowners.
Zombie Houses of NYC, AmNY
Director of Policy & Communications Matthew Hassett on new legislation to tackle the challenges that zombie foreclosures pose to communities: “I think there’s definitely a need for a more marketwide solution. It would be great to have it as a long-lasting law on the books.”
A.G. Schneiderman Announces Statewide Advertising Campaign To Help New York Homeowners Avoid Foreclosure Rescue Scams, Press Release
“Scammers prey on the desperation of those in danger of losing their homes, feeding them false promises that put their homes, their families, and their futures at even greater risk. This outreach and awareness campaign is critical to getting out in front of these despicable scammers, and we are committed to assisting the Attorney General in reaching homeowners before they become victims of a scam,” said Christie Peale, Executive Director of the Center for NYC Neighborhoods.
Read more about the campaign on our blog.
NYC Home Ownership Most Elusive for Blacks and Hispanics, Survey Finds, DNAinfo
“In New York City, like a lot of parts of the country, wages are stagnant and have been stagnant for years, and it’s very hard to qualify for a mortgage right now,” [Director of Policy and Communications Matthew Hassett] said. “Prices are rising so far into the clouds and out of reach for people with middle class salaries. We as a city have to work together to keep home ownership affordable. If we don’t, there’s going to be a continued turnover of homes to investors, which we are already seeing.”