(Read more on the multifamily market and moreon the debt and equitymarkets.)
NEW YORK CITY-Gov. Eliot Spitzer revealed a $510-million financeapproval for the construction and renovation of 1,182 affordablehousing units across the state. The projects and their financingwere approved by the boards of the New York State Housing FinanceAgency and the New York State Affordable Housing Corp. Countingthis approval, agencies have now approved financing to create andpreserve 4,739 units of affordable housing in New York State sinceJan. 1.
"Establishing a foundation for economic security starts withexpanding access to basic necessities such as affordable housing,"says Spitzer in a prepared statement. "Expanding access toaffordable housing helps revitalize struggling communities and growour economy. If people cannot afford to live in New York, thanbusinesses cannot afford to locate here."
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