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A new report by a large nonprofit that helps build affordable housing analyzed more than 800 affordable housing projects nationwide, including 50 in the five boroughs.
They found that in New York City, a median of 439 days passed between when a building’s apartments were finished to when new tenants moved in. The shortest leasing timeline was about 8.5 months — while the longest was over two years.
Housing experts blame red tape and layers of approvals that block low-income tenants from moving into badly needed homes. A city task force on speeding up development appointed by Mayor Zohran Mamdani is supposed to make recommendations by April 11 — tomorrow — but City Hall says those won’t appear for a few more weeks.
Ayah, a 29-year-old mom who spent three years living in a city shelter with her 5-year-old son after leaving an abusive marriage, waited two years to secure her current apartment in Jamaica, Queens. The experience “just felt so exhausting and absolutely humiliating,” she told THE CITY.
Weather ☀️
Mostly sunny, with a high near 60, going down to a low of 52 at night.
MTA 🚇
In Brooklyn, no Q trains between Brighton Beach and Coney Island-Stillwell Avenue from 9:45 a.m. to 3 p.m. Find all the MTA’s planned changes and the latest delays here.
Alternate side parking 🚙
It’s suspended today, April 10, for Orthodox Good Friday.
By the way…
Looking for a summer job? Forest Hills Stadium is hiring seasonal positions for its upcoming concerts.
Our Other Top Stories
Can Mamdani tame the NYPD? One hundred days into his mayoralty, the former “defund the police” activist is charting a pragmatic course with Police Commissioner Jessica Tisch and New York’s Finest, confounding allies and adversaries.
A coalition of groups sued the Department of Homeland Security on Wednesday, alleging that ICE and other federal agencies are unlawfully arresting immigrants in New York solely based on their race or ethnicity.
The Mamdani administration is trying to make it easier for you to cancel your subscriptions, taking a page out of the Biden-era consumer protection playbook.
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Where Are You in Your Housing Journey?
Homeownerships is one of the largest investments consumers will make in their lives – and one of the most exciting. But, the housing market has experienced a lot of highs and lows over the past few years, and many buyers are sitting on the sidelines wondering if now is the right time for them to buy. Here are a few questions considerations to determine whether you are financially ready for homeownership:
Your financial health is sound. This might look like having a regular, dependable source of income, having a good credit score—lenders typically look for a score of 620 and above—and having a low debt-to-income ratio. This allows lenders to better gauge how much you may be able to afford.
You understand the true cost of homeownership: This might look like understanding not only your borrowing capacity but also the monthly payment. You’re also prepared for the additional costs of buying a home, such as closing costs, property taxes, homeowners association fees, among other costs, as well as ongoing maintenance or repairs. Look for financial tools like the Chase affordability calculator to help determine buying power, based on income, and preferred monthly loan payments.
Your personal goals and timelines match up: Think about your upcoming life events and whether it makes sense to own a home, such as retiring, relocating or a growing family.
For more information to prepare you for your home buying journey, visit chase.com/afford or connect with a local a mortgage professional who can help make recommendations based on your unique financial picture and goals.
Reporter’s Notebook
Costs for Landlords
The costs for rent-stabilized landlords rose faster than inflation, according to research presented to the Rent Guidelines Board Thursday.
The board is a nine-member body that votes on whether — or by how much — to increase the rent of about a million stabilized apartments in the city. Their work is of particular significance this year, as the fate of Mamdani’s campaign promise to freeze rent is in their hands.
Overall, landlords’ costs increased 5.3% between 2025 and 2026, outpacing the country’s 2.7% inflation rate (which doesn’t include housing costs). The costs include expenses such as fuel, insurance, maintenance and labor.
Previous RGB research showed landlords’ income was up 6% in 2024, though that is two years behind the timeline for the cost increases.
RGB members must take these data points into account when considering a rent hike, which they are expected to vote on this summer.
— Samantha Maldonado
Things To Do
Here’s what’s going on around the city this week.
Friday, April 10: Reconnect with nature on a guided walk with a certified forest therapist inside Riverside Park. Free with an RSVP at 5:30 p.m.
Saturday, April 11: The American-Scottish Foundation presents Pipes and Drums before the New York Tartan Day Parade, featuring pipe bands from near and far at Bryant Park. Free at 10 a.m.
Sunday, April 12: Broadway and television actors present short vignettes based on the popular and often hilarious New York Times’ Metropolitan Diary at the Jefferson Market Library. Free at 2 p.m.
THE KICKER: Women’s hockey is having a big moment in New York, going from games with thousands of empty seats to selling out Madison Square Garden.
Thanks, as always, for reading. Make it a great Friday.
Love,
THE CITY
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