Stringer wants affordable housing to foster NYC’s techie talent

TRD New York /
Dec.December 11, 2012 08:30 AM

New York needs to curb its housing costs if it wants to keep attracting young tech talent and grow Silicon Alley, a new report released today by Manhattan Borough President Scott Stringer states. The report, titled “Start-Up City,” outlines 11 ways to keep New York’s tech boom booming, including investments in education, such as financial aid for engineering students who agree to work for the city after completing their degree, increasing diversity in the tech sector and designing a new class of affordable housing, according to the reported, cited by Crain’s.

Stringer is asking the city to consider creating cheaper rental housing for young New Yorkers by subdividing the thousands of apartments that do not meet the city’s building codes but are not unsafe. The plan would require changes to current housing codes in order to legalize these “accessible dwelling units,” and would also encourage construction of new units.

“The problem of affordable housing has become one of the biggest obstacles to attracting talent to the city,” Kathryn Wylde, president of the Partnership for New York City, said. “Legalizing construction of accessory units aimed at young people is a very compelling idea.” [Crain’s]Christopher Cameron


Related Articles

arrow_forward_ios
A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

Nonprofit plans affordable housing development near Essex Crossing
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
President Donald Trump (Getty, iStock)

Trump tweets that he “may END” Obama-era fair housing regulation

Trump tweets that he “may END” Obama-era fair housing regulation
City Council member Vanessa Gibson, Speaker Corey Johnson and City Council member Brad Lander (Getty)

Why the City Council abandoned affordable housing

Why the City Council abandoned affordable housing
Barika Williams of Association of Neighborhood and Housing Development and Adam Weinstein, CEO of Phipps Houses

Affordable housing experts talk systemic change

Affordable housing experts talk systemic change
A new report finds homes still unaffordable for majority of Americans (iStock)

TRD Insights: Homeownership unaffordable for average wage earner across 75% of US counties

TRD Insights: Homeownership unaffordable for average wage earner across 75% of US counties
Competition for affordable housing in New York City is highest among those who need affordable housing most (Getty, iStock)

Poorest face worst odds in city’s housing lotteries

Poorest face worst odds in city’s housing lotteries
S. Lawrence Davis and 160-05 Archer Avenue (Google Maps)

Shorewood scores $88M construction loan for first Opportunity Zone project

Shorewood scores $88M construction loan for first Opportunity Zone project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...