Mayor Eric Adams laid out a blueprint to increase homeownership, reduce street homelessness and improve public housing. But housing groups say his budget, $1 billion short of what he had promised, will not be enough.

Mayor Eric Adams on Tuesday unveiled a multiyear plan to address New York City’s growing housing crisis, pledging to make rentals and homeownership more affordable, to help homeless people find permanent housing and to invest in the New York City Housing Authority, the largest public housing entity in the United States.

The housing plan outlines five major housing initiatives, including expanding affordable housing by creating new incentives for developers to build residential units and new efforts by the city to preserve existing below-market units. It also pledged to improve conditions in public and private homes, to make modest increases in the city’s programs that subsidize and support homeownership, and to expand access to homeless shelters.

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