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    NYCHA Earns Over $2.6 Million By Transferring Hobbs Court Development Rights

    Development Rights  •  East Harlem, Manhattan

    Part of NYCHA’s Metro North Plaza Houses, which will receive funds from the transfer of development rights at Hobbs Court. Image Credit: Google Maps

    NYCHA seeks to raise revenue for capital repairs by selling transferrable development rights on NYCHA properties. On March 5, 2020, the New York City Housing Authority (NYCHA) announced the finalization of an agreement to transfer approximately 9,000 square feet of development and parking rights at the Hobbs Court development, located at 315 E 102nd Street in East Harlem, Manhattan.

    (read more…)

    Tags : development rights, hobbs court, NYCHA
    Date:05/21/2020
    Category : New York City Housing Authority
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