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Delay in New York Housing Plan

New York Housing Plan which was slated to be completed by 2013 has been delayed for one more year owing to the recent economic crisis worldwide. The low-cost housing plan is meant for families with low and moderate income, and consists of 165,000 units of residential homes. Began in the year 2003, the project has reached the halfway mark in five years with the completion of 82,500 units of homes till date. As the project is now delayed for one year, it is considered as a major setback for the mayor's ambitious initiatives to provide affordable accommodation to about 500,000 low and moderate income families in the city.

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