Comptroller follows through with $300M affordable housing investment

Last spring, New York City Comptroller Mark Levine’s unveiled plans to use the city’s public pension funds to invest $4 billion over the next four years in affordable housing development. Levine is making the first allocation in that plan. The municipal pension funds are investing $300 million into the AFL-CIO Housing Investment Trust, Gothamist reported. The trust has helped to build more than 44,000 units in the city in the last four decades and has another 10,000 units in the financing pipeline, including an unnamed Brooklyn co-op development. “This is a dramatic increase in the pace of investment because the […]

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