Wednesday, May 31, 2017

Pols Slam NYCHA’s Plan for de Blasio Donor to Build Pricey Apartments on Public Land in Manhattan

By Greg B. Smith

A growing list of elected officials Tuesday came out against NYCHA's plan to build high-end housing on public land, with U.S. Rep. Carolyn Maloney talking about filing legislation that would stop it.

Two weeks ago, NYCHA picked a developer to build a 47-story tower on what is now a NYCHA playground at Holmes Towers on the Upper East Side.

The tower, to be built by a big de Blasio donor, would be 50% market-rate, 50% "affordable" apartments jammed between two 25-story NYCHA buildings. NYCHA will collect a $25 million up-front fee and lease the land to the developer for 99 years. The developer will pocket all rent and manage the building. 

Click here for the full article. 

Source: The New York Daily News (via The Empire Report)

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