[The following guest commentary is a response to Airbnb’s commentary published here.]
New Yorkers are facing a growing affordability crisis, and over the years my office has examined many factors that have proven to contribute to the burden of rising prices – including, most recently, a report on the impact of Airbnb on New York City rental prices.
NYC Comptroller Scott Stringer recently released a report on Airbnb in New York City that is wrong on the facts, wrong on the methodology and wrong in its conclusions.
City neighborhoods report threats to affordable housing. The Association for Neighborhood & Housing Development released its 2018 report on “How Is Affordable Housing Threatened in Your Neighborhood?” The report provided its findings in a chart on all neighborhoods in the five boroughs and indicators of threats to affordable housing. The Association is the umbrella organization of 100 non-profit affordable housing development groups, which serves low- and moderate-income residents in all five boroughs.
On April 2018, New York City Comptroller Scott M. Stringer issued a report on the impact of Airbnb on City rents. The report looked at how the home-sharing company impacted rent in the City over the period of 2009 to 2016. The report found that rental rates increases during this time period can be attributed to Airbnb.
One hundred percent affordable buildings will rise in the South Bronx. On April 20, 2018, construction began on two new buildings at La Central in the Bronx. The 1.2 million square-foot development is one of the largest mixed-income projects currently in development in the City. The buildings will be located at 556 and 600 Bergen Avenue.
The 100% affordable housing development faced height and scale opposition by neighborhood residents. On April 11, 2018, the City Planning Commission heard proposals for the 142-150 South Portland Avenue Rezoning in Fort Greene, Brooklyn. The rezoning is led by the Hanson Place Adventist Church, who seeks to develop a mixed-use residential building. The proposal will create a new 13-story building owned by the Church. The plan will also allow for commercial use on the … <Read More>