The Real Deal New York

Posts Tagged ‘affordable housing’

  • 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. [more]

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  • From left: Bill de Blasio, John Flanagan and Carl Heastie

    From left: Bill de Blasio, John Flanagan and Carl Heastie

    Members of the state senate and the assembly both believe that the 421a tax abatement — which is set to expire next month along with the state’s rent regulation laws — will be extended. [more]

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  • 493 Eleventh Avenue

    493 11th Avenue in Hell’s Kitchen (credit: Google Maps)

    A Manhattan community board has proposed converting a city-owned parking lot in Hell’s Kitchen into a 322-unit affordable housing tower.

    The parking lot, at 493 11th Avenue, between West 39th and 40th streets, should be the site of “a 100 percent permanently affordable building,” Community Board 4 wrote in a letter last week to the city’s Economic Development Corporation and Department of Housing Preservation & Development. [more]

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  • Nancy Packes

    From left: Nancy Packes and Bill de Blasio

    The development of market-rate residential units in Manhattan, Brooklyn and Queens is approaching levels not seen since the 1960s, according to a new report that claims such developments are already addressing the needs of “moderate and middle-income households” as described by the city. However, the city needs to redouble its efforts to cater to the three lowest income groups, the report suggests. [more]

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  • From left: Mayor Bill de Blasio and a tenant protest against 421a tax breaks in front of One57

    From left: Mayor Bill de Blasio and a tenant protest against 421a tax breaks in front of One57 in Midtown

    Labor unions and contractors are lobbying to overhaul the 421a tax abatement program to guarantee higher wages for construction workers and help create more affordable housing. [more]

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  • From left: Proposed rezoning in East Harlem and Melissa Mark-Viverito

    From left: Proposed rezoning in East Harlem and Melissa Mark-Viverito

    City Council Speaker Melissa Mark-Viverito has formed a committee that aims to oversee the proposed rezoning of East Harlem. [more]

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  • 50-Riverside-Gary-Barnett

    From left: 50 Riverside Boulevard and Gary Barnett

    More than 88,000 applicants are vying for 55 affordable housing units at Extell Development’s Upper West Side “poor door” development. [more]

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  • Allan Arker

    From left: 211 West 28th Street in Chelsea and Allan Arker

    Affordable housing developer Arker Cos. plans to convert a Chelsea commercial property at 211 West 28th Street into a 14-story, 37-unit residential building, according to permits filed Thursday with the Department of Buildings.

    Arker seeks to redevelop the existing six-story, 13,338-square-foot office and retail space into a roughly 24,600-square-foot supportive affordable housing building, according to the filing. [more]

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  • Collegiate School Riverside South

    Collegiate School’s proposed Riverside South development (credit: Collegiate School)

    Upper West Side residents will have an opportunity to comment on where the city should build a $50 million affordable housing development in the neighborhood.

    Residents will help generate a list of “creative ideas” about where the city should build the development, which is being funded by $50 million contribution from Collegiate School. [more]

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  • Arlington Village Brooklyn NY

    From left: Eli Tabak, 3100 Atlantic Avenue in East New York and Amit Doshi

    A group of investors led by Eli Tabak of the Bluestone Group acquired a two-building apartment complex known as Arlington Village in East New York for $30 million, with plans to redevelop it as affordable housing, The Real Deal has learned. [more]

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  • Carl Weisbrod and Mayor Bill de Blasio

    Carl Weisbrod and Mayor Bill de Blasio

    City Planning Commission chairman Carl Weisbrod admitted yesterday that Mayor Bill de Blasio’s goal of creating and preserving 200,000 units of affordable housing over the next decade won’t solve the affordable housing crisis. To make a real impact, he said, policymakers will have to look toward the suburbs. [more]

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  • From left: Bill de Blasio and Rob Speyer

    From left: Bill de Blasio and Rob Speyer

    Tishman Speyer’s residential megaproject in Long Island City is eligible for a $200 million 421a tax abatement without having to build a single low-cost unit, something that is creating friction with leadership at City Hall. [more]

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  • de blasio rift

    Mayor Bill de Blasio and (from top) Council Speaker Melissa Mark Viverito, Councilman Carlos Menchaca and Councilman Jimmy Van Bramer

    Differences on land-use policy are causing clashes between Mayor Bill de Blasio’s administration and the City Council, and threaten to create a serious rift between the two traditional allies.

    In neighborhoods ranging from East New York, where Council Speaker Melissa Mark-Viverito refuses to sign off on de Blasio’s proposed rezoning, to Sunset Park, the site of an impasse between Councilman Carlos Menchaca and the New York City Economic Development Corp. over redevelopment of the South Brooklyn Marine Terminal, the mayor is facing pushback from leaders with anti-development positions, according to Crain’s. [more]

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  • Tenant advocates rallied on Wednesday afternoon

    Tenant advocates rallied outside One57 last month (Credit: Claire Moses/The Real Deal)

    Eliminating the 421a tax program altogether — which is what tenant advocates are trying to accomplish — could result in a freeze of development and could lower the prices that developers are willing to pay for land. [more]

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  • 059-060 Knakal se FINAL.indd

    From left: Bob Knakal, Ian Reisner, Daren Hornig and Josh Schuster

    Federal tax reform could have disastrous effects on the city’s real estate market if it shakes things up too much, industry players said this morning at a panel organized by the Academy for Continuing Education, a residential brokerage school. [more]

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  • CarlWeisbrod

    Carl Weisbrod

    Mayor Bill de Blasio has proposed zoning changes that would eliminate parking requirements for new affordable and senior housing within half a mile of mass transit as well as allow for taller buildings.

    The mayor introduced the zoning changes on Friday, according to Capital New York. First, the proposal will have to go through the public land-use review process. [more]

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  • “421-a paid for my bidet”

    February 18, 2015 05:35PM
    Tenant advocates rallied on Wednesday afternoon

    Tenant advocates rallied outside One57 on Wednesday (Credit: Claire Moses/The Real Deal)

    More than 80 tenant advocates descended on New York’s “Billionaires’ Row” Wednesday to protest against what they believe is an unfair tax break for the wealthy. [more]

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  • From left: Jack Nyman and Vicki Been

    From left: Jack Nyman and Vicki Been

    Rent costs are a severe burden for a third of New Yorkers, and the city is at risk of becoming a gated community unless it can solve its affordability crisis, housing experts said at a conference this morning.

    “The number one expense for New Yorkers,” said Jack Nyman, executive director of the Steven L. Newman Real Estate Institute and the organizer of the Implementing Affordable: New York’s Affordable Housing Crisis conference, said on Wednesday, “is living.” [more]

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  • From left: Allan Arker and Sol Arker

    From left: Allan Arker and Sol Arker

    The Arker Companies,which specializes in developing low-income housing, is proving itself to be an important player in Mayor Bill de Blasio’s plan to build and preserve 200,000 affordable units.

    The company was founded by Aron Arker, a Polish immigrant and Holocaust survivor who eventually settled in East Flatbush and started a successful business building moderately-priced one and two-family homes in Brooklyn and Staten Island, according to the Wall Street Journal. It is now run by Aron’s two sons, Allan and Sol Arker, his grandson, Alex Arker, and an in-law, Daniel Moritz. [more]

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  • From left: Bill de Blasio and a recent tenant rally in New York City

    From left: Bill de Blasio and a recent tenant rally in New York City

    As Mayor Bill de Blasio embarks on his mission to create and preserve affordable housing and fight for stronger rent regulation laws, he could find himself caught between tenant advocates and the real estate industry. [more]

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