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Council Discourse

NYC Council meetings, chaptered and linked by time.

Created by Uzair Qadir

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Agency Testimony

HPD on aging housing stock and billions in capital needs

New York City Council · Jul 15, 2026 · starts 0:12:43 · 22 sec

Phillips notes much of the stock is 50-70 years old, with major systems at end of life, deferred capital, and decarbonization requirements leading to billions in estimated capital needs over the next decade.

Adam Phillips

Much of the Mitchell-Lama housing stock was constructed between 50 to 70 years ago.

Adam Phillips

As a result, co-ops and rentals alike have major building systems nearing the end or surpassing their useful lives.

Adam Phillips

The age of the housing stock, deferred capital improvements, and compliance with decarbonization requirements has led to high estimated capital needs amounting to billions over the next decade.