This development marks a major milestone in addressing the urgent need for affordable housing, as many New Yorkers—particularly those in the South Bronx—struggle to find stable homes amid a housing crisis and a historically low vacancy rate of just 1.4%, leaving little availability for extremely low-, very low-, and low-income households., UL10: Ten Affordable Housing Developments 10 inventive designs put housing within reach of low- and moderate-income individuals and families, , , , .