Mayor Eric Adams, in collaboration with the Building and Construction Trades Council of Greater New York and Vicinity (BCTC) President Gary LaBarbera and Cirrus Workforce Housing Advisors, LP (Cirrus), has announced a groundbreaking partnership to construct affordable housing for essential workers. This initiative, backed by over $100 million from BCTC-affiliated pension funds and Cirrus, aims to address the pressing housing crisis faced by hardworking New Yorkers. The historic memorandum of understanding between the city government, labor unions, and private enterprise highlights a united effort to combat housing challenges.
By utilizing union funds and fostering public-private cooperation, this initiative strives to provide accessible housing options for NYC’s workforce. This innovative approach reflects Mayor Adams’ dedication towards addressing affordability issues while promoting equitable opportunities for all residents in need of quality housing.
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