The Real Deal New York

NYCHA quietly selling off public land to private developers

The agency has sold 441,000 square feet of land since 2013

March 29, 2015 05:00PM

NYCHA CEO Shola Olatoye and NYCHA properties

NYCHA CEO Shola Olatoye and NYCHA properties

In an attempt to ease budget shortfalls, the New York City Housing Authority is quietly selling off parking lots, green space and playgrounds to developers.

Starting in 2011, NYCHA began to ramp up efforts to sell small parcels, the New York Daily News found. Since 2013, the agency has sold off 54 plots totaling 441,000 square feet of public land to private developers.

NYCHA has used funds raised from the vacant or what it deems “underutilized” land to build affordable or senior housing.

According to the Daily News, more sales are coming this year, although officials wouldn’t comment as to NYCHA’s plans. [NYDN]Christopher Cameron

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