At the CityLaw Breakfast on September 5, 2014, Carl Weisbrod laid out the De Blasio Administration’s housing policy. As was widely reported, the City will look to implement mandatory inclusionary housing on all City-sponsored rezonings. One of the first tests of this new policy is the privately sponsored Astoria Cove development in Queens, where an affordable component will likely be required if approved under ULURP.
Search Results for: Affordable housing
City Council Approves Tax Exemption to Preserve Affordable Housing
Dean Atlantic HDFC received property tax exemption for seven buildings. On August 21, 2014, the City Council voted 47-0 to approve an Article XI property tax exemption on seven buildings owned by the Dean Atlantic Housing Development Finance Corporation. The Department of Housing Preservation and Development requested the exemption from the City Council on Dean Atlantic’s behalf. The buildings are all in Brooklyn Community Board 16, covering the Ocean Hill and Brownsville communities. Six … <Read More>
Citizens Budget Commission Report: Lack of NYC Affordable Housing not as severe as other Cities
CBC report compares New York City’s lack of housing affordability to 22 other cities. On August 6, 2014, the Citizens Budget Commission released a report studying the scale of New York City’s affordable housing problem by comparing New York City to twenty-two other U.S. cities that were either among the largest U.S. cities by population, or the centers of the largest metropolitan areas by population. The study covers a thirteen-year time period, 2000 to 2012. … <Read More>
$350 Million Investment In Affordable Housing
Partnership announced to establish a $350 million fund to support affordable housing throughout the City. On July 30, 2014, Mayor Bill de Blasio and Comptroller Scott M. Stringer announced a partnership to establish a $350 million fund to support affordable housing throughout New York City. The new financing was raised through the support of Citi, the New York City Retirement Systems, the New York City Housing Development Corporation, Wells Fargo, Morgan … <Read More>
Financing Approved for Affordable Housing Developments
HDC approves the financing to fund 2,226 units of affordable housing. On June 16, 2014, the Board of Directors of the New York City Housing Development Corporation approved the financing for projects in Manhattan, the Bronx, and Brooklyn which will consist of $2756 million in bonds and $88.7 million in subordinate financing for HDC. The money will be used to construct eleven new buildings with 1,259 affordable housing units and preserve and protect seven projects … <Read More>
New Affordable Housing for Artists Open for Application
Former public school has been transformed into affordable housing complex for artists. Artspace P.S. 109 is a 90-unit affordable housing complex that formerly served as an underutilized school building located in 215 East 99th Street in East Harlem, Manhattan. P.S 109 is an 1898 Gothic Revival-style structure that is also listed on the National Register of Historic Places.