De Blasio Reveals Plan to Solve ‘Worst Financial Crisis’ In NYCHA History
Will Bredderman
Mayor Bill de Blasio unveiled today his administration’s long-awaited “NextGeneration NYCHA” plan, designed to address what he called the “worst financial crisis” in the New York City Housing Authority‘s eight-decade history—and simultaneously construct 10,000 new low-cost apartments that will count toward his ambitious affordable housing agenda.
NextGeneration NYCHA, details of which the Observer reported last month, resembles former Mayor Michael Bloomberg’s controversial “infill” plan in calling for the leasing of open space at housing authority properties to private developers to build. But Mr. de Blasio was quick to point out that, while Mr. Bloomberg’s plan would have allowed for predominantly luxury construction, most of the new buildings would be 100 percent below-market, renting at rates affordable to a family of three earning $46,000 a year or less.
Read more at http://observer.com/2015/05/de-blasio-reveals-plan-to-solve-worst-financial-crisis-in-nycha-history/#ixzz3adNVwSoX