Real estate pledges $10M for pro-development Council hopefuls

TRD New York /
May.May 31, 2013 11:30 AM

Real estate developers, property owners, investment firms, banks and insurance companies have pledged $10 million to a political action committee that will give to pro-development candidates for New York City Council, the New York Times reported.

The Real Estate Board of New York is spearheading the PAC, called Jobs for New York. Several unions that represent carpenters and other laborers also support the committee. The PAC intends to focus on Council members, who tend to have great sway over development in their districts. Ironically, however, the group will advocate for members to play a lesser role in supervising development.

It plans to back candidates from up to 25 Council districts who support “an agenda focused on creating good jobs, building affordable housing and improving the city’s economy,” according to a memo seen by the Times.

The money will go toward expenses for district-by-district polling, phone banks, direct mail, and television and radio advertisements to support candidates seen as being allied with the interests of business leaders and their supporters in labor, the report said. [NYT]Mark Maurer


Related Articles

arrow_forward_ios
John Banks

High expectations: A look at John Banks’ 4 years at REBNY

John Banks

John Banks to step down as REBNY president

REBNY Awards

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi

REBNY pivots on politics; Newark sues NYC for sending homeless

REBNY pivots on politics; Newark sues NYC for sending homeless

Jim Whelan (Credit: Axel Dupeux)

REBNY starts singing a different tune

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

From left: JLL’s Bob Knakal, Brown Harris Stevens' John Burger and Compass’ Adelaide Polsinelli (Credit: Getty Images and iStock)

Real estate veterans will get schooled by this new law

Jim Whelan (Credit: Axel Dupeux)

REBNY’s James Whelan: “We have to do things differently”

arrow_forward_ios