The New York City Housing Authority, which faces a $195 million budget gap, may sell off more than 30 million square feet of development rights. The last substantial pool of development rights in Manhattan, the space is equivalent to eleven Empire State Buildings. These rights are worth “billions” of dollars, according to Manhattan Borough president Scott Stringer. The majority of the Housing Authority’s unused space is in Harlem, the Lower East Side and the Upper West Side. [Sun] and [AMNY]
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Housing Authority could sell air rights for billions
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