De Blasio lags affordable housing goals at 100-day mark

Two Trees, Related Companies projects make first dent with 839 units promised

TRD New York /
Apr.April 07, 2014 04:45 PM

After 100 days in office, the de Blasio administration is already behind on its goal to create or preserve 200,000 units of affordable housing in New York City.

In order to achieve this number, Mayor Bill de Blasio and his administration would have to build or preserve 55 such apartments per day, according to the Wall Street Journal. And at the 100 day mark they are running behind schedule, despite a couple of recent high-profile deals that have made headway recently.

Two Trees Management agreed to construct 537,000 square feet of affordable housing — or 700 units — in early March at the developer’s Domino Sugar refinery site in Williamsburg. And though specifics about the income parameters for prospective tenants and size of the units haven’t yet been provided, the project kicked off the biggest chunk of affordable housing additions under de Blasio so far.

In another deal, the Related Companies agreed to devote all of a 139-unit building at 539 West 29th Street near its Hudson Yards project to affordable housing. The structure was initially slated to be 80 percent market-rate and 20 percent affordable, and Related said it sought federal subsidies to make the entire building affordable when the initial breakdown was proposed.

Mayor de Blasio and his officials have said they will unveil a plan to tackle the remainder of the administration’s affordable housing goals by May 1. [WSJ]Julie Strickland


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
(Credit: iStock)

No Covid break for big properties with unpaid taxes

No Covid break for big properties with unpaid taxes
A new study found that almost nine in 10 households have paid at least some rent in May (Credit: iStock)

Almost 90% of renters have made payments in May: report

Almost 90% of renters have made payments in May: report
Mayor Bill de Blasio (Photo by William Farrington-Pool/Getty Images)

Who made de Blasio’s real estate reopening council — and who didn’t

Who made de Blasio’s real estate reopening council — and who didn’t
Mayor Bill de Blasio (Credit: Getty Images)

De Blasio proposes big cuts to affordable housing budget

De Blasio proposes big cuts to affordable housing budget
Mayor Bill de Blasio (Credit: Getty Images; iStock)

Bleeding cash, de Blasio outlines $2.7B in cuts, higher fines

Bleeding cash, de Blasio outlines $2.7B in cuts, higher fines
Mayor Bill de Blasio (Credit: Getty Images and iStock)

City to move some homeless into hotel rooms

City to move some homeless into hotel rooms
arrow_forward_ios

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

Loading...