Results tagged “firefightersunion”

With the stock of affordable housing in New York City shrinking, and requirements that some city workers reside within the five boroughs and nearby suburbs, some unions are entering the real estate market to directly provide or subsidize housing for their members. The firefighters union recently announced that it was considering using some of its $7.2 billion pension fund to invest in real estate that would be used to provide affordable housing for New York's Bravest and their families. According to NY1, the union hasn't determined whether it would sell or rent to its members, but any development is still years in the future.