NYCHA wants to build market-rate housing in East Williamsburg

Authority would lease land to private developer

TRD New York /
Sep.September 29, 2017 09:30 AM

Cooper Park Houses

The New York City Housing Authority plans to bring a project with market-rate housing near an 11-building development for lower-income tenants in East Williamsburg.

The housing authority would lease a parking lot near Cooper Park Houses — a 700-apartment complex— to a private developer to build up 250 units, the Wall Street Journal reported. The units would be split 50-50: Half would be market-rate, and the other half would be below market-rate. Proceeds from the lease would go to the housing authority’s capital program.

“It has a market value that can be leveraged,” Deborah Goddard, executive vice president for capital projects at the authority, told the Journal.

Democratic Rep. Carolyn Maloney, however, argued that the affordable units created through 50-50 programs aren’t affordable enough.

“It creates a system where public-housing developments in affluent areas lose access to the few conveniences they currently have to generate income of which only a fraction is invested in the buildings bearing the burden,” she said.

The authority plans to issue a request for proposals after consulting with residents of Cooper Park Houses. [WSJ] — Kathryn Brenzel 

Related Articles

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

Compass SoCal boss Nick Segal steps down

Compass SoCal boss Nick Segal steps down

NYCHA Chair Gregory Russ and NYCHA houses in Brooklyn (Credit: Minneapolis Public Housing Authority and Getty Images)

NYCHA residents are suing for 10 years of rent overcharges

Democratic State Sen. James Skoufis (Credit: NY Senate)

Real estate agents facing subpoenas after failing to appear at hearing

From left: 1 West End Avenue, 161 West 13th Street and 66 Ninth Avenue (Credit: StreetEasy and Wikipedia)

Porter House penthouse among NYC’s 5 priciest homes to hit the market last week

15 East 90th Street (Credit: Google Maps)

Lonely townhouse finds a match after years on market

From left: renderings of 1 Propect Park West, 85 Jay Street and 98 Front Street in Brooklyn (Credit: StreetEasy)

The priciest Brooklyn condo filings of 2019