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