The Real Deal New York

Posts Tagged ‘affordable housing’

  • From left: Bill de Blasio and Franklin Avenue in East New York

    From left: Bill de Blasio and Franklin Avenue in East New York

    Mayor Bill de Blasio’s plan to transform East New York — and thus establish a “template” for his administration’s affordable housing plan — could face some challenges. [more]

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  • Homes in East New York

    Homes in East New York

    A square mile section of Cypress Hills, a northeastern subsection of Brooklyn’s East New York neighborhood, is set to house the first 15 sites of Mayor Bill de Blasio’s $41 billion affordable housing plan. But residents of the area, one of the poorest in the city, likely won’t be able to swing the cost of these “affordable” units.

    The median income in the district is around $32,000 per year, and the median rent of the planned affordable units citywide is to be between $1,050 and $1,670, Shai Lauros, director of community development for the Cypress Hills Local Development corporation, told Gothamist. [more]

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  • New York City flood zones

    New York City flood zones

    New building requirements that protect against flooding have put landlords of public and regulated multifamily buildings in a catch-22 situation, according to a new report from the NYU Furman Center.

    New flood insurance rates imposed in the wake of Superstorm Sandy leave landlords with a tough choice: pay higher insurance premiums or embark on costly retrofits that would lower those premiums, the New York Observer reported. The dilemma affects 1,500 buildings with 90,000 units of public, subsidized or rent-stabilized housing. The report concludes that the only viable choice for many landlords is to make them market rate. [more]

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  • 20140718_flushing_lirr

    Flushing Main Street LIRR Station

    The Department of Housing Preservation and Development has put out a request for proposals for a downtown Flushing residential development that would include affordable units and be built on a municipal lot.

    Municipal Lot 3, which currently functions as a parking lot, is located on 41st Street between Main Street and College Point Boulevard, near the Long Island Rail Road Station. The agency is considering proposals for mixed-income housing with either half of the stock set aside for two-bedroom apartments or 40 percent reserved for family-sized units, the TimesLedger reported. [more]

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  • From left: Rendering of CAMBA Gardens Phase II at  560 Winthrop Street, Brooklyn and Stuyvesant Town

    From left: Rendering of CAMBA Gardens Phase II at 560 Winthrop Street, Brooklyn and Stuyvesant Town

    As the de Blasio administration rounds the six-month mark, more than 8,700 units of affordable housing have already been financed. [more]

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  • Program’s first efforts will focus on restoring affordable housing damaged by Superstorm Sandy in Far Rockaway, Queens

    Program’s first efforts will focus on restoring affordable housing damaged by Superstorm Sandy in Far Rockaway

    The Obama administration’s Home Affordable Modification Program, which relieves homeowners at risk of foreclosure, is being extended for an additional year. [more]

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  • Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    Forest City Ratner signed a formal agreement with the state to accelerate the pace of affordable housing construction around his Atlantic Yards project in Downtown Brooklyn. [more]

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  • From left: Dan Garodnick, Brooklyn Navy Yard and Bill de Blasio

    From left: Dan Garodnick, Brooklyn Navy Yard and Bill de Blasio

    Elected officials, academics and community advocates asked Mayor Bill de Blasio to commit to creating 50,000 manufacturing jobs in the next 10 years. [more]

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  • From left: Gary Barnett, 229 Cherry Street sketch and demolished Pathmark

    From left: Gary Barnett, 229 Cherry Street sketch and demolished Pathmark

    Extell Development’s Lower East Side project has come under fire for promoting what some residents call “economic segregation.” [more]

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  • Rendering of 155 West Street

    Rendering of 155 West Street

    A trio of stalled development projects along the Williamsburg waterfront are looking to renew their building permits and revive work halted during the recession.

    Property owner Rector Hylan is looking to renew a 2006 permit to build 18- and 24- story towers with 450 apartment units at 420-430 Kent Avenue, two blocks from Two Trees Management’s Domino Sugar project. Twenty percent of the units in the properties would be affordable, according to DNAinfo. A nearby project at 462-490 Kent Avenue, dubbed the Rose Plaza on the River, would bring five buildings with 754 units, 226 of which would be affordable. That project was approved in 2010. [more]

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  • ritchie-torres

    Ritchie Torres

    Eighteen members of the City Council yesterday sent a joint letter to Mayor Bill de Blasio urging him to set aside more than 2,500 units of public housing per year for homeless families. In its affordable housing plan, the city has allocated 750 apartments for families leaving homeless shelters.

    Council member Ritchie Torres, of the Bronx, called the current number “too timid.”

    “The mayor is failing to set aside enough units to leave a dent in the crisis,” Torres said. [more]

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  • From left:

    From left: Jonathan Rose, the Seward Park Urban Renewal Settlement and Ron Moelis

    From the June issue: It seems like only yesterday that big-time luxury developers were the darlings of City Hall. Under Mayor Michael Bloomberg, firms like the Related Company, Vornado Realty Trust, Tishman Speyer and Extell Development Company flowered, negotiating some of the biggest development deals New York City has seen in half a century. [more]

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  • From left: Michael McKee, Bill de Blasio, Alicia Glen, and Laura Santucci

    From left: Michael McKee, Bill de Blasio, Alicia Glen, and Laura Santucci

    Mayor Bill de Blasio’s $41 billion plan to build or preserve 200,000 units of affordable housing officially launched today. But one member skipped the gathering to publicly criticize the mayor’s plan.  [more]

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  • 20140617_Lenniger_corner

    Lenniger Residences in East Treamont, the Bronx

    The city has added more supportive housing in the Bronx over the past decade than in other boroughs, according to data from the Department of Housing Preservation and Development. [more]

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  • From left: Greenpoint Landing and Cadman Towers

    From left: Greenpoint Landing and Cadman Towers

    The New York City Housing Development Corporation approved $500 million to fund nearly 3,000 units of affordable housing across the city on Monday.  [more]

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  • Big changes coming to East New York

    June 15, 2014 01:00PM
    Atlantic Avenue in East New York

    Atlantic Avenue in East New York

    WEEKENDEDITION Mayor Bill de Blasio’s affordable housing push is going to usher in big changes for some under-utilized New York City neighborhoods. But Brooklyn’s East New York neighborhood is about to see some of the biggest changes of all. [more]

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  • From left: Rory Christian, post-Sandy flooding in Red Hook and Bill de Blasio

    From left: Rory Christian, post-Sandy flooding in Red Hook and Bill de Blasio

    Mayor Bill de Blasio’s $41 billion affordable housing plan would provide more benefits to poor New Yorkers if it tackled energy efficiency, Rory Christian, New York director of clean energy at the Environmental Defense Fund, argued in a Crain’s editorial. [more]

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  • From left: Stuyvesant Town and Peter Cooper Village and renovated apartment at Peter Cooper

    From left: Stuyvesant Town and Peter Cooper Village and renovated apartment at Peter Cooper

    New York City  just bought itself more time in its bid to preserve affordable housing at Stuyvesant Town and Peter Cooper Village. [more]

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  • From left: Jeffrey Hayward, Stuyvesant Town (source: Alec Jordan), Daniel Garodnick and Gale Brewer

    From left: Jeffrey Hayward, Stuyvesant Town (source: Alec Jordan), Daniel Garodnick and Gale Brewer

    Mortgage giants Fannie Mae and Freddie Mac promised the city and tenant groups they will not invest in any deal to purchase Stuyvesant Town and Peter Cooper Village without first consulting lawmakers and residents. [more]

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  • gary_barnett.jpg

    Gary Barnett

    Documents filed with Community Board 3 show that Extell Development plans to build a 205-unit affordable tower as part of a larger mixed-use project at 229 Cherry Street.

    Extell, headed by Gary Barnett, filed the plans in preparation for its public briefing with the board’s land use committee on Wednesday, June 18.

    The filings show the large complex will include three structures. A mixed-use building – designed by Adamson Associates — will feature apartments, retail and parking. [more]

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