New York State is providing a fresh infusion of $4 million for a grant program that helps city homeowners build unconventional forms of apartment units on their properties, Mayor Adams announced Monday.
The new investment will only help bankroll the construction of 20 of the so-called accessory dwelling units, known as ADUs. The program is a component of the mayor’s “City of Yes” initiative, which proposes various development law changes to spur housing growth.
Adams and his advisers said in a press conference that every little bit helps, though, as his administration scrambles to address steep housing shortages across the five boroughs.
“There are a lot of different tools that we have to make sure [they] work and work in tandem to make it easier for homeowners in our city, and we’re doing just that by the announcements of these tools today,” said Maria Torres-Springer, Adams’ deputy mayor for housing.
In addition to the funding allocated from the state Division of Housing and Community Renewal, Adams and his aides said they’re launching an online application portal where homeowners can apply for the grants to build ADUs. That portal wasn’t immediately publicly available.
ADUs are any secondary units on the same property as a primary home, such as basement apartments with separate entrances or backyard cottages.
Under the program, homeowners will be eligible for individual $395,000 grants to cover ADU construction costs. The new $4 million investment comes on top of $2.4 million the state provided when the program launched last year, helping fund construction costs for 15 ADUs.
Asked at Monday’s press conference whether any of those 15 units are completed, Department of Housing Preservation and Development Commissioner Adolfo Carrion said they’re “still in the process” and added: “It’s obviously a very young program.”
Adams’ team argues incentivizing construction of such units are good for homeowners — who can make money off of renting them out — and for addressing the city’s housing crisis. After dropping during the pandemic, rents have skyrocketed in the city in recent years, as the number of apartments available for new tenants to move into has also plummeted to historic lows.
Originally Published: