Op-Ed | Why we need multigenerational affordable housing: A community within a development

New York City is home to people of all ages—children, seniors, and everyone in between—walking the same streets. Regardless of their age or socioeconomic background, most New Yorkers share the same concern: finding and affording a home that fits their needs. Luckily, innovative and impactful projects are starting to take root in communities across the city. We must support these pioneers to do even more in solving the housing crisis.

Nearly half of New Yorkers say housing is their biggest economic challenge, and over three-quarters agree that housing costs have worsened. New York faces a statewide housing shortage of nearly 540,000 units, and analysis shows that failing to close this gap could result in the loss of up to 750,000 jobs and as much as $1 trillion in economic output for the tri-state region by 2035.

While the housing affordability crisis impacts all New Yorkers, each generation faces unique challenges in finding affordable housing that suits their needs. We must ensure that these diverse needs are considered in new affordable housing projects. 

Consider older adults, one in eight of whom live in poverty in New York, meaning many cannot afford to age with dignity in the neighborhoods they helped shape. For New Yorkers 75 and older, the supply of dedicated senior housing relative to the population is less than 5 percent, a figure far below that of New York’s peer cities nationally. With older New Yorkers making up a larger share of the population than ever before—growing nearly 17 times faster than that of the City’s population—the need for affordable housing where they can age in place is more important than ever. 

At the same time, families with children are dealing with both housing and childcare crises. This means that, in addition to finding an affordable home in the city that suits their family, working families are often paying for private childcare, which costs between $16,900 and $26,000 annually. Young working families are being pushed out of New York City because they can no longer afford it—despite many having deep roots in the city for multiple generations—making them twice as likely to leave than families without young children. 

When we talk about future affordability in New York City, especially regarding large, ambitious developments, we also need to remember our neighbors across different generations who face extra barriers to accessing affordable housing that meets their specific needs.  

At the New York State Association for Affordable Housing (NYSAFAH), we have a history of breaking down barriers to development, unlocking public and private capital, and advocating for policies that result in more units being built. Ultimately, the only way to address New York’s housing shortage is to build more, preserve existing units, and innovate with the infrastructure we already have.

Major developments like Gotham Point in Long Island City, Queens exemplify how affordable housing in New York City meets the needs of the city and its neighborhoods. 

This mixed-income, multigenerational residential community in the Hunter’s Point South waterfront neighborhood consists of two towers, including 1,132 total residences with 75% of units priced at affordable rates, as well as a separate, dedicated 98-unit senior housing wing. 

Today, Gotham Point’s sustainable waterfront design welcomes all ages, from children to grandparents, representing a wide range of income levels. Senior and supportive services provided by RiseBoro enable seniors to live among their peers and engage with the entire community within a single complex.

Residents have access to amenities including fitness centers, rooftop terraces, resident lounges, co-working spaces, and a children’s playroom, and the development is part of a larger waterfront transformation plan for Hunter’s Point South, which includes a variety of publicly accessible spaces, such as a rooftop urban farm, a community boathouse, and retail spaces.

Gotham Point emphasizes the opportunity to serve diverse communities through thoughtful, affordable housing development, demonstrating how these projects can enhance the neighborhoods where they are built. For these reasons, NYSAFAH is proud to recognize Gotham Point as our Downstate Project of the Year.

As we work to make New York City more affordable and livable for everyone, we must remember that we need not only more affordable housing but also housing designed to meet residents’ needs. We already have examples of how this is being achieved to ensure New Yorkers can continue living in the city they love in a home they can afford; we just need to keep up this momentum.

Rivera is President and CEO of the New York State Association for Affordable Housing.