Latest Articles Tagged "affordable housing crisis"
The selection of Soho and Noho is part of a strategy of Open New York to focus on 'high opportunity' neighborhoods.
'The federal government, of course, starved NYCHA for resources for decades and the price of that neglect hit us in the face, it came due.'
But as is common in city land-use battles, the potential outcome the community faces is not development or no development.
A Central Park South penthouse that was purchased by billionaire hedge funder Ken Griffin for $238 million is worth only $9.4 million in the eyes of tax assessors.
Reformers are confronting economic forces of supply and demand in a metropolitan area where land, labor and tax costs are high—and in a state where the real estate industry has deep pockets.
In addition to being a cause of blight, abandoned lots have also been blamed for posing public health risks, including contributing to feelings of depression and anxiety.
"That's all very calculated... to pitch to a constituency that's going to help elect him president," one Cuomo critic maintains.
Showing NYC buildings where landlords filed five or more eviction cases between January 2013 and June 2015.
In New York, a staggering 54 percent of tenants are rent-burdened.
"It's our land that we own. We shouldn't be selling off million dollar condos that people in the community can't afford."