Policy wonks offer affordable housing solutions for Bloomberg’s successor

TRD New York /
Sep.September 03, 2013 03:14 PM

New York City’s next mayor will have plenty to keep him or her busy when it comes to affordable housing and new residential development.

While Mayor Michael Bloomberg’s New Housing Marketplace initiative boosted investment in affordable housing, the expiration of subsidies for 8,500 affordable units per year — starting in 2017 as short-term limits expire — is raising questions about long-term affordable housing options.

“The city cannot continue to give developments public financing, zoning or tax incentives if they do not produce permanently affordable units,” Barika Williams, policy director at the Association for Neighborhood and Housing Development, wrote in a New York Times discussion. “We should return to the Koch model of working with community-based nonprofit developers who achieve long-term affordability and provide the greatest neighborhood benefit.”

One possible solution, according to discussion participant and Regional Plan Association fellow Julia Vitullo-Martin, is to increase the city’s limited supply of space by focusing on transit-oriented development. She opined that Bloomberg’s wide swathes of rezoned sections, particularly along the “formerly derelict” waterfront, were a step in the right direction. Ranking neighborhoods by concentration of transit would provide an analysis of which areas can best absorb the most new development, she wrote.

“The point is to create a device to capture part of the profits of development to improve the neighborhood being developed, and to relieve pressure elsewhere, even helping to save historic sections of the city,” Vitullo-Martin wrote. [NYT]Julie Strickland


Related Articles

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

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

205 Park Avenue (Credit: Google Maps)

Developer files plans for mixed-use project facing BQE

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

Concept plans for 'The Halo' at 289-301 Washington Street and Meridian Capital Investment's David Schechtman - provided by Meridian Capital Investments/ Minno Wasko

Developer seeks $40M for Opportunity Zone site in downtown Newark

From left: Michael Bennett, Joe Biden, Pete Buttigieg, Kirsten Gillibrand and Kamala Harris (Credit: Getty Images)

Presidential debate 2020 Night 2: Here’s where these Democratic candidates stand on housing

Mayor Bill de Blasio and Rikers Island (Credit: Getty Images)

Real estate development not coming to Rikers Island, mayor says

arrow_forward_ios
Loading...