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CityFHEPS Budget Battle Heats Up | Real Estate News
The city’s budget is locked in a high-stakes battle over funding for CityFHEPS, the vital rental assistance program that’s grown from $26 million to over $1.8 billion—projected to hit $3 billion by 2030. With the Mayor and Council at odds, tenant advocates, landlords, and homeless services are united in demanding more investment, while social media campaigns amplify the urgency of New York’s affordability crisis. Meanwhile, a massive Downtown Brooklyn development—featuring 1,500 units, a school, and community spaces—is moving forward, with affordable housing as a key component. And while the…
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