New Council bill hopes to bring transparency to the housing lottery

HPD would have to release report on applicants

TRD New York /
Dec.December 01, 2017 12:22 PM

535 Carlton Avenue in Brooklyn and 855 Sixth Avenue

A new bill seeks to make the lottery for affordable housing units in the city more transparent.

Council member Mark Treyger on Thursday introduced the legislation, which would require the city to release information on how many applications they receive, how many were selected, how many were wait-listed and how many were rejected. The report, which would be released by the Department of Housing Preservation and Development, would also include certain demographic information on the applicants. The information would be organized according to income levels of those candidates — if they make 30 percent of the area median income, between 50 and 80 percent, or between 80 and 165 percent.

“We’ll finally know exactly who qualifies for affordable housing and, perhaps more importantly, who doesn’t and why,” Treyger said during a council meeting on Thursday.

The bill could shed some light on demand for apartments in certain income bands. Some developers have expressed difficulty in finding tenants for units set aside for those in the higher AMI ranges (130 to 165 percent). Tenants at this income level often unaware that they are eligible for subsidized housing, or are deterred by the amount of paperwork that goes into snagging such units.

Late last month, Mayor Bill de Blasio announced that he was expanding his affordable housing program by adding another 100,000 units to his goal. The administration aims to preserve or create 300,000 units by 2026.


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
Dan GIlbert (Getty, iStock)

Mortgage mogul Dan Gilbert sees net worth quicken to $34B

Mortgage mogul Dan Gilbert sees net worth quicken to $34B
The rate on the 30-year mortgage fell to 2.88 percent, the lowest rate in 50 years (iStock)

30-year mortgage rate hits record low — again

30-year mortgage rate hits record low — again
New York’s real estate market is becoming two different stories: Manhattan, where deals are falling — and the suburbs, where demand is spiking. (iStock, Unsplash)

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July
Home sale price declines are expected for July, after a recent bump, according to a CoreLogic report. (iStock)

Home sale prices got a bump, but a drop is coming: Report

Home sale prices got a bump, but a drop is coming: Report
The weekly survey tracking purchase loans saw a seasonally adjusted decline of 2 percent in the final week of July. (iStock)

Home loan applications fall again amid tight credit rules, weak job market

Home loan applications fall again amid tight credit rules, weak job market
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
arrow_forward_ios

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

Loading...