De Blasio to unveil affordable housing scheme this week

Large-scale developments likely to be key part of mayor's plan

TRD New York /
Apr.April 28, 2014 01:10 PM

Mayor Bill de Blasio is expected to unveil details of his affordable housing plan by Thursday. The mayor, who made affordable housing a key component in his campaign, has promised to add or preserve 200,000 less-expensive housing units over the next 10 years.

While de Blasio has given few details of the plan, he has suggested that he supports the use of large-scale developments to achieve that goal.

Some critics have called the plan “crazy,” and challenged the enormity of the proposal, the New York Daily News reported. But during a speech at Columbia University on Friday, de Blasio maintained that the plan was viable, and part of a bigger effort to fight poverty and mend the wealth gap in New York City.

“That’s what we have to reach for and we will get there,” he said.

While some remain skeptical, real estate industry insiders also acknowledge de Blasio’s previous willingness to make deals with developers. “We’re not worried,” a source told the New York Daily News. [NYDN] — Sasha von Oldershausen


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