De Blasio's NY housing plan seen falling short

New York

WHEN Mayor Bill de Blasio took office in 2014, he made affordable housing the centrepiece of his administration, vowing to build or preserve 200,000 units over a decade in New York, where the cost of shelter was rocketing past the grasp of many residents.

Now, despite scepticism from many housing experts and a feud with the governor that has derailed one of the major programs used to subsidise development, the de Blasio administration announced on Monday that it was ahead of schedule in meeting its goals, having financed the creation or preservation of nearly 53,000 affordable apartments so far.

Just in the fiscal year ending June 30, more a…