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New York, 11:33 PM
Sat Nov 28
9 posts in the last 24 hours
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srsly, if those developers made a deal with the city to convert to affordable housing, it would be so full of win
why not add these doomed buildings to the list of affordable units?
http://www.nyc.gov/html/hpd/html/apartment/mitchell-lama.shtml
What is Mitchell-Lama?
Created in 1955, the Mitchell-Lama program provides affordable rental and cooperative housing to moderate- and middle-income families.
Mitchell-Lama Building in Manhattan
There are 101 City-sponsored, moderate- and middle-income rental and limited-equity cooperative developments in New York City, almost 46,000 units. HPD supervises waiting lists, management issues, and has other oversight responsibilities for 80 Mitchell-Lama developments; an additional 21 developments have shared supervision by HPD and the Federal Department of Housing and Urban Development.
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One of the biggest scams in real estate involves developers renting failed properties to the City's Department of Homeless Services at way-above-market rents (such as $2700 a month for a small place in the shittiest part of Crown Heights). So it's actually often in the financial interests of these greed-blind speculators to convert failed condos to housing for the homeless, rather than affordable housing for the lower middle class or working poor. Luckily, the working poor are swiftly swelling the ranks of the homeless, thus becoming eligible for the chrome monstrosities that displaced them. And everybody wins. By losing.
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12 oz beer
juice of 1 lemons
2 dashes Worcestershire sauce
1 dash soy sauce
1 dash Tabasco® sauce
1 pinch black peppers
salt
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the lack of affordable middle class housing for working people and families and the jobs that go with them are the biggest structural weaknesses in the nyc economy. wall st is a gaping black hole now, metaphorically and financially. the 50k support jobs underlying all that are gone now too
if ny is going to be more than a frat house for traders, the city needs housing at all economic levels: for the young and just starting (non trust funded) for the old and independent, for the teachers, cops ... all the people in those kids' books about "my town" ... the butcher, the baker and the candlestick maker.
they all need jobs and homes. and thin crust coal oven pizza with fresh basil too
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better housing for more people = better nyc
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