While millions of people are purchasing tickets every day to win the
Mega Millions lottery, thousands of New Yorkers are sending in
applications to win the opportunity to own or rent a brand new
apartment in central Harlem. Because of the efforts of a public-private partnership, 22 individuals
or families will be able to own a home in one of two 22-unit
condominiums under construction at 261 West 112th Street and 2100
Frederick Douglass Boulevard. The condo units are offered for sale through the Cornerstone Program of
New York City’s Department of Housing Preservation and Development, and
range in price from $239,500 for a studio to $328,500 for a
two-bedroom. [more]

The Department of Housing Preservation and Development never followed
up to see whether developers who got discounts on city land in exchange
for building affordable housing actually built those homes, according to the New
York Daily News. Under the department’s Cornerstone Program,
developers received vacant city-owned land in exchange for building
2,191 residential units on the property, of which 1,510 would be for
low- or middle-income residents. But according to an audit by
Comptroller William Thompson released today, the department did not
track how many developments were participating in the program or how
many affordable units were built. [more]