New York City to invest $500 million to build affordable senior housing

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New York City has plans to build thousands of senior housing units on public land, Senior Housing News reported, citing a report in the Wall Street Journal.

The city will spend $500 million on the construction of new affordable apartments on unused space at the New York City Housing Authority developments, including parking lots and lawns, the Journal reported.

New York City is struggling with affordable senior housing. More than 207,000 families are on the the city’s public housing waitlist. Housing advocates asked for a funding of $2 billion for the construction of housing units for seniors, according to the Journal.

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