The Real Deal New York

New housing plan includes working with private developers

Under the proposal, NYCHA would also transfer 1,000 employees to other city agencies

May 19, 2015 08:05AM

From left: NYCHA Chair Shola Olatoye and Mayor Bill de Blasio

From left: NYCHA Chair Shola Olatoye and Mayor Bill de Blasio

Mayor Bill de Blasio is announcing a 10-year plan that is supposed to improve and help fund the New York City Housing Authority by working together with private developers.

The proposal includes leasing unused land in the housing developments for private residential projects, according to the New York Times, which is expected to bring in $500 million in revenue over the coming decade. The proposal would also help build more affordable housing.

The mayor’s proposal also includes a plan to provide developers with land on which they’d build 10,000 affordable apartments at three different housing projects — two in Brooklyn and one in the Bronx — in exchange for $200 million in fees over the coming decade, the Times reported.

Other plans include transferring about 1,000 NYCHA employees to different departments, charge more for parking from the residents and up the authority’s rate of rent collection, the newspaper reported.

NYCHA has an operating deficit of $98 million this year, according to the newspaper, and needs about $16 billion to maintain all of its properties.

“Public housing is part of New York’s fundamental fabric,” Alicia Glen, deputy mayor for housing and economic development, told the newspaper. “We’re obligated to try to turn this ship around.” [NYT] — Claire Moses