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A report released Thursday is calling for reforms to New York City’s leasing process, finding that some affordable housing buildings can take up to 14 months to reach full occupancy due to delays. Published by Enterprise, the report highlights how even amid the city’s housing crisis, newly built affordable units can sit vacant for months as tenants and owners navigate the “lease-up process,” the period between when a building is ready for move-ins and when it reaches capacity. As first reported by The City, the report outlines a series of recommendations, including reforms to CityFHEPS, the city’s Housing Connect lottery system, and streamlining of the homeless placement process.
Enterprise, a national nonprofit focused on increasing affordable housing supply and advancing racial equity, found that 100 percent of the affordable housing developments it financed in NYC between 2021 and 2024 experienced delays, with an average lease-up time of more than 14 months…