February 25, 2024 10:51 pm

NYC to offer up to $300,000 to home owners who convert their garages or Attics to rooms for migrants – Citizen Watch Report

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New York City unveiled a pilot program to help homeowners build accessory dwelling units.

The city will give lucky homeowners up to $395,000 each to construct the extra unit.

The New York State government has also handed out millions of dollars for ADU development.

As cities and towns across the country struggle with a housing shortage, policymakers are looking to legalize and even fund the construction of accessory dwelling units, or “granny flats,” on existing residential property.

New York City just unveiled its newest effort, which will hand homeowners up to $395,000 to build an additional apartment. This could mean an extra unit in a garage, basement, or attic, or a tiny home in the backyard. The idea is to boost housing density in a city in desperate need of new housing.

New Yorkers can apply online for the funding, but high-income residents aren’t eligible — the income limit for a family of four is $232,980, the New York Times reported. And the ADUs that are built will have a limit on rent: a one-bedroom can’t be rented for more than $2,600.

www.yahoo.com/news/york-city-pay-homeowners-395-024634377.html

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Original Source: NYC to offer up to $300,000 to home owners who convert their garages or Attics to rooms for migrants – Citizen Watch Report

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