NEW YORK, NY November 09, 2007 —The city's plan to build more housing for low and moderate income New Yorkers is for the most part on schedule. That's according to a recent report tracking the progress so far. WNYC's Cindy Rodriguez reports.

The goal of the plan is to produce 165-thousand apartments by the year 2013. Four years into it 40 percent of the housing has, at a minimum, been financed. According to the report by the city's Independent Budget Office 75 percent of these apartments are for low income people, the rest for more middle income New Yorkers.

The report says much of progress was made through preserving old apartments. They were either renovated or refinanced to stay cheap. More new construction is expected going forward. But the report says financing for it might be a challenge because of a potential lack of funds at the state and federal level.