Most 421-a building has been rental, city says

Since mid-2002, at least two-thirds of the new housing built with the popular 421-a tax incentive have been rentals, according to the city’s Department of Housing Preservation and Development. The Bloomberg administration in late February announced the creation of a task force to re-examine the need for the 421-a incentive, which the city says has helped create 110,000 housing units in the past 35 years. more By Tom Acitelli