NEW YORK CITY—Despite the frigid temperature outside, the NewYork Housing Conference and National Housing Conference’s 37thAnnual Awards Luncheon saw a record turnout this year. HeldThursday at the New York Hilton here, the event attracted some1,300 affordable housing professionals and raised about$600,000.

The ceremony was kicked off with opening remarks by Alfred A.Dellibovi, luncheon chairman and president and CEO of the FederalHome Loan Bank of New York, who introduced the first speaker, MariaF. Barry, community development banking executive with Bank ofAmerica-Merrill Lynch. She stressed BofA-ML’s commitment toaffordable housing in the New York region, citing the 10-year,$1.5-trillion budget the firm has targeted for investment in thearea. BofA-ML has spent $750 million of that total over the pastthree years, resulting in the creation of some 4,500 affordableunits. “The sophistication of development teams, the range of toolsmade available to developers and the leadership of the HousingConference” are all major parts of New York’s affordable housingsuccess story, said Barry.

New York’s affordable housing has indeed been more successfulthan that of many other areas, but by no means is it beyond crisisproportions. Judith Calogero, CEO of the NYHC, stated, “As we closeout the first decade of this century, no adjective would properlyconvey the crisis facing families today.” The wealth gap in NewYork City is the third worst in the world, she noted, outpacing SaoPaolo, Brazil and even Mumbai and New Delhi, India.