NYC Pension Trustees Commit $300 Million to Build 10,000 Homes
Updated
Updated · Spectrum News NY1 · Sep 17
NYC Pension Trustees Commit $300 Million to Build 10,000 Homes
3 articles · Updated · Spectrum News NY1 · Sep 17
Summary
$300 million from four New York City pension trustees will go into the AFL-CIO Housing Investment Trust to finance construction and preservation of 10,000 homes.
The investment is aimed at easing the city's housing shortage, with Comptroller Mark Levine outlining the plan in a Thursday interview on NY1's "Inside City Hall."
The AFL-CIO trust is tied to the nation's largest labor federation and requires union labor on projects it backs.
The commitment is the first allocation from a broader $4 billion housing investment plan announced a day earlier by the city's municipal pension funds.