NEW YORK CITY—Mayor Bill de Blasio and Comptroller Scott Stringer have joined forces to establish a $350 million fund to support affordable housing throughout New York City, marking a major investment in the administration’s plan to create and preserve 200,000 units of affordable housing.

The capital was raised through the support of Citi, the New York City Retirement Systems (consisting of the Teachers’ Retirement System of the City of New York, New York City Employees’ Retirement System, New York City Police Pension Fund, New York City Fire Department Pension Fund, and the New York City Board of Education Retirement System—collectively NYCRS), the New York City Housing Development Corp.,Wells Fargo, Morgan Stanley, Deutsche Bank, Bank of America and other financial institutions.

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