NEW YORK, NY — City officials announced a new initiative designed to speed up affordable housing development on public land by cutting months from the approval process.
The “Neighborhood Builders Fast Track” program will pre-qualify developers and shorten the timeline to select project teams, according to officials.
The process aims to reduce the pre-development request for proposals phase by about eight months, cutting the selection timeline nearly in half.
Combined with the city’s new Expedited Land Use Review Procedure, the administration said the overall pre-development process could shrink by more than two years.
The city plans to apply the new process to three initial sites: 784-800 Myrtle Ave. in Brooklyn, 1337 Jerome Ave. in the Bronx and 109-43 Farmers Blvd. in Queens.
Those projects could deliver up to 300 affordable homes, including about 100 homeownership opportunities in the Bronx and Queens.
Over the next two years, the administration expects the program to help advance as many as 1,000 new housing units.
HPD has issued a request for qualifications, due May 8, for developers seeking to participate. The agency said it will prioritize nonprofit organizations and minority- and women-owned businesses.
The initiative builds on a series of actions launched at the start of the administration, including task forces focused on identifying city-owned land for development and streamlining housing production.
Council Member Chi Ossé said the inclusion of a Bed-Stuy site reflects local need.
“Build more housing and keep our neighbors here,” Ossé said. “With Neighborhood Builders accelerating this work, we can move faster to confront rising rents and prevent displacement.”
City officials said additional sites may be added as the program expands.