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HUD Secretary To Throw Spotlight On Affordable Housing Investment And Need For Public-Private Partnership

Marcia L. Fudge took a tour of affordable senior housing and also spoke to bankers at the JPMorgan Chase Housing Finance Summit. 

December 4, 2023

HUD’s Secretary Marcia L. Fudge visited New York on November 28 and November 29 and visited a senior housing community representing a joint venture with faith-based institutions emphasizing increasing the affordable housing supply. There are 100 apartment units for low-income seniors and the Chinese-American immigrant population. HUD Vouchers can be used for 100% of the units. 

The Secretary visited Nehemiah Spring Creek in collaboration with EBC and partners to engage with stakeholders and discuss the potential contributions of faith institutions and developers of color in expanding affordable housing and homeownership opportunities for underserved communities. Nehemiah Spring Creek is an initiative to transform 45 acres of wetlands into a modern, mixed-income, and smart growth community to offer 1600 affordable apartment rentals and townhouse homeownership. There are public schools, family health and medical facilities, dining options, and human services in the community. The community is also near to one of the newest shopping centers. HUD resources for sustainability also gave investment for the project. 

HUD’s Secretary Marcia L. Fudge said, “In New York City, I toured local housing developments, met with residents, and spoke to leaders in housing finance. To lower housing costs we must build more affordable housing and preserve the housing we have. Public-private partnerships like the ones I saw in Brooklyn are promising steps forward.”

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The content provided in this article draws inspiration and includes quotes from various reputable sources, including news articles, government data, and interviews. Affordable Housing 411 strives to ensure accuracy and credibility, but the information presented may be based on some external sources. We encourage readers to refer to the referenced materials for more in-depth insights and verification.

 

Department of Housing and Urban Development. “Photo and Video Release: In Brooklyn and at JP Morgan Chase & Co Housing Summit, HUD Secretary Spotlights Affordable Housing Investments and Need for Public Private Partnership”. Department of Housing and Urban Development, December 1, 2023, 

Photo and Video Release: In Brooklyn and at JP Morgan Chase & Co Housing Summit, HUD Secretary Spotlights Affordable Housing Investments and Need for Public Private Partnership | HUD.gov / U.S. Department of Housing and Urban Development (HUD)

Last Updated: September 20, 2021