New York City Mayor Eric Adams and New York City Councilmember Justin Brannan today toured 160 Water Street, an office building being converted to housing in Lower Manhattan, to highlight the need for investments and policy changes in the Fiscal Year 2024 state budget that would help create and preserve more affordable housing in the five boroughs.

"Last year, we declared that New York City would lead the way on affordable housing in America by becoming a 'City of Yes,'" said Mayor Adams. "But we've said from the beginning that we cannot solve this problem without help from the state. We need this year's budget to include programs that make it easier to convert offices into homes, incentives for the construction and preservation of affordable housing, assistance for NYCHA tenants, and a host of other investments that will make New York more affordable for working families. Working with our partners in Albany, we can take the next major step towards providing quality housing for all New Yorkers."

"Our administration has rolled out an ambitious housing agenda that would speed up new construction and allow more affordable housing to be built in every part of the city," said Deputy Mayor for Economic and Workforce Development Maria Torres Springer. "Now, we need our partners in Albany to give us the tools to go even farther, so we can meet our moonshot goal of creating 500,000 additional homes over the next decade. We are grateful to Governor Hochul for including so many of our housing priorities in her executive budget, and to Speaker Adams and Councilmember Brannan for partnering with us on a strategy to convert more unused office buildings to affordable housing. We can solve this housing crisis, but only if we all work together."

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