Our Platform
Creates a new, well funded public authority able to build, acquire, and renovate permanently affordable housing for public and community ownership.
What is Social Housing?
Social housing is permanently affordable, prioritizes community ownership and democratic control, and is protected from market forces. Social housing includes limited equity co-operatives, publicly owned housing, and community land trusts.
The Social Housing Development Authority
This legislation will create a Social Housing Development Authority (SHDA), a new, well-capitalized public developer that can build and preserve affordable housing across the entire state, using union labor.
Without the profit incentive of private developers, the SHDA will reinvest all excess proceeds from rents for maintenance and expansion of social housing stock and other public purposes. It will include deeply affordable units and middle-income units to cross-subsidize, and utilize state operating subsidies like project-based housing vouchers. With a $5 billion initial capitalization, the SHDA could create or acquire 26,000 new union-built homes.
Examples of Social Housing
Mitchell-Lama Co-Ops and Rentals
Cooper Square Community Land Trust
Investing for the Public Good
The SHDA is faster and more efficient than our existing agencies because it brings many of the existing powers of the state – to finance, build, acquire, and rezone – under one roof. The Authority would have the ability to directly construct new housing and issue bonds to finance it, as well as acquire and rehabilitate distressed properties.
By reducing developer fees, eliminating the need for profit, and relying on public action rather than private finance, we can spend public funds on low rents for low-income tenants, build with 100% union labor, and invest in clean energy.
Permanently Affordable Housing
At least 25% of homes held in trust by the SHDA would be affordable to very-low and no-income households. Unlike housing built with tax incentives like LIHTC or 421-a, whose affordability and tenant protections expire after 30 years, this housing would stay permanently affordable, allowing tenants to set long-term roots in their communities.
By Workers, For Workers
The SHDA will build, preserve and manage housing using a 100% union workforce. Housing built by the SHDA is for everyone: it is mixed income and affordable to both very low and no-income households, as well as teachers, nurses, social workers, public sector employees and other working class New Yorkers.
Endorsers
Churches United for Fair Housing
Community Service Society of New York
For the Many
Housing Justice for All
Housing Rights Initiative
Met Council on Housing
NYC-DSA
Neighbors Together
New Kings Democrats
New York Working Families Party
Building Construction Trades Council
New York City District Council of Carpenters
Tenants Political Action Committee
United Federation of Teachers
Urban Homesteading Assistance Board
Social Housing is Popular
81%
of of NYC voters support social housing
per a 2023 Data for Progress poll
