NYCHA could sell public land to raise funds

Troubled agency "cannot assure" no sale under city's 10-year reform plan

TRD New York /
Jun.June 08, 2015 06:00 PM

The New York City Housing Authority could sell public housing land in order to raise funds for the troubled agency.

NYCHA general manager Michael Kelly told the City Council’s public housing committee Monday that the agency “cannot assure” that it won’t make such a sale in the future.

Councilman Ritchie Torres, who chairs the public housing committee, asked Kelly whether he could ensure that there would be “absolutely no sale of public housing land” under the city’s plan to stabilize NYCHA, according to Capital New York.

Mayor Bill de Blasio unveiled his 10-year “NextGeneration” plan to improve and help fund the agency last month. The city’s largest landlord and the country’s largest public housing authority, NYCHA has faced insolvency and has a $17 billion capital repair backlog. [Capital New York]Rey Mashayekhi


Related Article

arrow_forward_ios

Gary Barnett says luxury market is crowded, WeWork IPO woes continue: Daily Digest

Congresswoman Alexandria Ocasio-Cortez Holds Public Housing Town Hall In The Bronx (Credit: Getty Images)

Rep. Alexandria Ocasio-Cortez wants to put rent regulation, mortgage fraud in the national spotlight

Elevated risk: Malfunction at NYCHA is putting public housing residents at greater risk of being injured in its elevators

Clockwise from left: 373 East 183rd Street, 261 East 202nd Street, 270 East 203rd Street, and 750 East 134th Street in the Bronx (Credit: Google Maps)

The top 10 biggest real estate projects coming to NYC

Amazon mulls new grocery chain, Douglas Elliman’s new marketing boss: Daily digest

The blackout impacted a 42-block stretch of Manhattan between the Hudson River and Fifth Avenue (Credit: Getty Images)

Con Ed still searching for answers in Manhattan blackout

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

Real estate development not coming to Rikers Island, mayor says

Manhattanville (Credit: Wikipedia)

Monadnock, others to lead $500M renovation of Manhattan NYCHA properties

arrow_forward_ios