New York City Mayor Eric Adams touted a $5 billion “City of Yes” housing project as a concrete reason he’s not a distraction to the city while his corruption trial continues.
The mayor has faced an onslaught of political and media criticism for his continued role as New York City’s mayor despite facing highly damaging corruption charges.
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Adams told reporters Thursday that the plan was proof he wasn’t distracted from his job and that the plan would be a large part of his legacy.
“We’re all uniform in the fact that we have to provide housing, and we just did something amazing,” he said.
The plan is estimated to provide for 80,000 additional homes in the city, which would contribute to ending the city’s housing crisis that has seen scarce availability and rising prices as a result.
Gov. Kathy Hochul praised the proposal’s success. It’s likely to pass at a Dec. 5 Council vote despite some Republican opposition in the largely-Democratic chamber after it won approval from a City Council committee.
“We need all hands on deck to build more housing and make New York more affordable for all of us,” she said.
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Though Adams took credit for the proposal, he relied on his deputy mayor Maria Torres-Springer and director of the Department of City Planning Dan Garodnick to push for the plan’s approval. A city council member, Lincoln Restler, called Adams “toxic” and said he has “zero political capital.”
Many of the Democrats looking to oppose Adams in the 2025 Democratic primary for mayor supported the plan going forward. City comptroller Brad Lander and former comptroller Scott Stringer were among those who praised the plan, though they lamented that it might not have done enough.
“At the end of the day, this minimalist proposal is a small part of a long journey to make sure that working people can live and thrive in our city,” he said.
The $4 billion will come from the city, with an additional $1 billion from the state.
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The state funds will go into housing-related capital funds, while half of the $4 billion in city funds will go toward capital expenses over the next five years for sewers, flood protection, streets, and “open space” investments, according to the mayor’s office.
$1 billion will be spent on tenant protections and flood monitoring over the next 10 years, and the last $1 billion will go into housing-related capital funds with the state money.