Preservation of Section 8 properties will prevent conversion to market-rate housing. On August 15, 2018, the Housing Preservation and Development, the Housing Development Corporation, and the LIHC Investment Group announced the preservation of 669 units of project-based Section 8 housing in high-cost City neighborhoods where similar buildings have been converted to market-rate housing.
Applicant faces uphill battle to turn parking lot into residential building. On June 13, 2018, the City Planning Commission held a public hearing on an application by Camber Property Group for rezoning at 1601 DeKalb Avenue in Bushwick, Brooklyn. The rezoning will facilitate the construction of a new residential building. The rezoning will affect three lots owned by Camber and seven lots not owned by the applicant. The new building, however, will be constructed on … <Read More>
Addition of manufacturing and creative space supports City goals to provide more middle-class jobs. On June 13, 2018, Deputy Mayor for Housing and Economic Development, Alicia Glen, together with the Brooklyn Navy Yards and Steiner NYC, announced the beginning of construction at 399 Sands Street. The project will add manufacturing and creative office space at the 300-acre Brooklyn Navy Yard, an urban manufacturing center, and is expected to bring manufacturing jobs to the area. The … <Read More>
City will use the modular construction method to reduce costs and construction time. On May 23, 2018, Housing Preservation & Development announced a Request for Proposals for the design, construction, and management of the new 100% affordable mixed-income and mixed-use development in East New York, Brooklyn. The City-owned project site is an L-shaped parcel of 49,397 square-feet along Eldert Lane between Pitkin and Glenmore Avenues. A portion of the site is also located along Grant … <Read More>
De Blasio Administration will focus on reducing rat population through different extermination measures. On April 17, 2018, Mayor Bill de Blasio announced a new rat extermination plan for the NYCHA’s ten most rat-infested developments. The extermination plan is part of the Mayor’s $32 million Neighborhood Rat Reduction Program to reduce rat populations in the most infested City neighborhoods: Grand Concourse in the Bronx, Chinatown, East Village, and Lower East Side in Manhattan, and Bushwick and … <Read More>
The revised Section 421-a offers new opportunities for affordable housing. The 421-a property tax exemption began in 1971 as an incentive for developers to develop badly needed housing in New York City. When the real estate market rebounded in the 80s, the program was amended to condition tax abatements on the construction of affordable housing units. The program expired in June 2016. In its place, the State Legislature passed the “Affordable New York” program in … <Read More>