Levine says turning units into affordable housing could have benefits

March 09, 2009 12:46PM

Developer Jeffrey Levine said a combination of subsidies and tax
incentives could be an enticement for landlords who can’t sell units
to instead convert them into affordable housing. The city is looking to turn the thousands of vacant apartments throughout the five boroughs into affordable housing. City Council member Melinda Katz told NY1 that the plan could be done by negotiating with landlords for cheap prices, or as part of the stimulus package, adding it to tax breaks. [NY1]

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