New housing plan includes working with private developers

Under the proposal, NYCHA would also transfer 1,000 employees to other city agencies

New York /
May.May 19, 2015 08:05 AM

Mayor Bill de Blasio is announcing a 10-year plan that is supposed to improve and help fund the New York City Housing Authority by working together with private developers.

The proposal includes leasing unused land in the housing developments for private residential projects, according to the New York Times, which is expected to bring in $500 million in revenue over the coming decade. The proposal would also help build more affordable housing.

The mayor’s proposal also includes a plan to provide developers with land on which they’d build 10,000 affordable apartments at three different housing projects — two in Brooklyn and one in the Bronx — in exchange for $200 million in fees over the coming decade, the Times reported.

Other plans include transferring about 1,000 NYCHA employees to different departments, charge more for parking from the residents and up the authority’s rate of rent collection, the newspaper reported.

NYCHA has an operating deficit of $98 million this year, according to the newspaper, and needs about $16 billion to maintain all of its properties.

“Public housing is part of New York’s fundamental fabric,” Alicia Glen, deputy mayor for housing and economic development, told the newspaper. “We’re obligated to try to turn this ship around.” [NYT] — Claire Moses

 
 
 
 

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
420 Stockholm Street in Bushwick with State Attorney General Letitia James (Google Maps, Getty)
Ownership dispute at Brooklyn rental puts affordable tax break at risk, city says
Ownership dispute at Brooklyn rental puts affordable tax break at risk, city says
Paul Fishbein pretended to own properties across the city, pocketing rental assistance checks in the process, authorities said. (Getty)
Landlord imposter pocketed $1.5M in rental assistance: Authorities
Landlord imposter pocketed $1.5M in rental assistance: Authorities
City Council member Justin Brannan (Getty, Justin Brannan via Facebook)
Council member wants to take up office-to-resi conversions debate
Council member wants to take up office-to-resi conversions debate
Veev CEO Amit Hallar (Veet, iStock)
Modular housing startup Veev raises $100M to build homes faster, cheaper
Modular housing startup Veev raises $100M to build homes faster, cheaper
From left: Shaun Donovan, Dianne Morales, Kathryn Garcia, Eric Adams, Ray McGuire, Andrew Yang, Maya Wiley and Scott Stringer (Getty)
Mayoral candidates tackle affordability, cancel rent in housing debate
Mayoral candidates tackle affordability, cancel rent in housing debate
NYCHA Chairman Gregory Russ and NYCHA federal monitor Bart Schwartz. (NYCHA Monitor)
NYCHA overhauling management system
NYCHA overhauling management system
arrow_forward_ios

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

Loading...