New York, NY – In a significant move to address the ongoing housing crisis, the New York City Department of Housing Preservation and Development (HPD) has announced the commencement of a community engagement campaign for a new 100 percent affordable housing development at East 5th Street in the East Village. Commissioner Adolfo Carrión Jr. unveiled the plans for the project at 324 East 5th Street, a city-owned parking lot slated for transformation. This initiative is a key part of Mayor Eric Adams’ ambitious “24 in 24” plan, aiming to advance 24 affordable housing projects on public land within 2024.
First Deputy Mayor Maria Torres-Springer emphasized the administration’s proactive approach, stating, “The continuation of the Mayor’s ’24 in 24′ initiative demonstrates this administration’s commitment to tackling the decades-long housing crisis affecting too many New Yorkers. 324 East 5th Street exemplifies our common-sense strategy: converting a city-owned parking lot in a well-served, transit-accessible location into affordable housing, with the support of local Council Members.”
Executive Director for Housing Leila Bozorg highlighted the successful progress of the “24 in 24” plan, saying, “A year ago, we committed to utilizing city-owned land to build affordable housing for New Yorkers. I am thrilled that we achieved our goal of advancing 24 affordable housing projects on public lands in 2024. The 324 East 5th Street RFP further underscores this administration’s dedication to creating community-focused affordable housing wherever feasible.”
HPD Commissioner Adolfo Carrión Jr. further elaborated on the project’s rationale: “Repurposing public land, currently a parking lot for city vehicles, for affordable housing is precisely the right course of action. We are excited to leverage this taxpayer-owned property to creatively and sustainably address our historic housing crisis. True to our policy, we will actively engage with the local community – my childhood neighborhood – to ensure the development at 324 East 5th Street aligns with local needs and aspirations. After all, this is the iconic Loisaida!”
The site at 324 East 5th Street, an 11,540 square-foot plot in the heart of the East Village, is presently used as a parking lot for the NYPD’s 9th Precinct. The city identified this location for affordable housing development due to its suitability for residential use, fulfilling commitments outlined in the SoHo/NoHo Neighborhood Plan, and capitalizing on the continuous need for affordable housing in amenity-rich areas with limited affordable options. The location is ideally situated in a mixed-use neighborhood, offering excellent access to public transportation and public spaces.
The development process for 324 East 5th Street will commence with a comprehensive community engagement phase. This will culminate in a community visioning report that summarizes the collective input from local residents. HPD will spearhead this effort through in-person community workshops, local outreach events, meetings with the community board and stakeholders, and ongoing feedback collection via an online questionnaire. Community members, local organizations, and residents are encouraged to share their feedback and suggestions through the questionnaire. Following the community visioning report, HPD will issue a Request for Proposals (RFP), inviting affordable housing development teams to submit their proposals for the site. Developer responses must reflect the community priorities identified in the visioning report. Detailed information, including process updates and upcoming public events, is available on the HPD website.
The 324 East 5th Street project represents a significant step in realizing Mayor Adams’ “24 in 24” plan, initially announced in his 2024 State of the City address. Through this initiative, the Adams administration is advancing 24 affordable housing projects on public sites throughout 2024, aiming to create or preserve over 12,000 housing units through collaborations between HPD, the New York City Economic Development Corporation (NYCEDC), and the New York City Housing Authority (NYCHA).
Council Member Carlina Rivera expressed strong support for the initiative, stating, “Our community has tirelessly advocated for the protection and expansion of affordable housing in our neighborhoods to ensure families and seniors can afford to remain here. Our district has formed a robust coalition to welcome much-needed affordable homes, and we have secured a commitment to transform this underutilized parking lot into affordable housing. I am excited to begin the public engagement process and continue collaborating closely with the administration, advocates, and neighbors to secure resources that expand affordability and strengthen our communities.”
The advancement of affordable housing at 324 East 5th Street follows the City Council’s recent approval of Mayor Adams’ “City of Yes for Housing Opportunity” plan. This landmark zoning reform is the most pro-housing initiative in the city’s history and is projected to facilitate the construction of up to 80,000 new homes across the city over the next 15 years. This enables the city to maximize affordable housing development, including projects like 324 East 5th Street.
About HPD:
The New York City Department of Housing Preservation and Development (HPD) is the largest municipal housing preservation and development agency in the nation. HPD’s mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through various programs. These include loan and development programs for new affordable housing, preservation of existing affordable housing, enforcement of housing quality standards, and educational programs for tenants and building owners. For comprehensive information, please visit www.nyc.gov/hpd. For regular updates on HPD news and services, connect with them on Facebook, Twitter, and Instagram @NYCHousing.
