Building equity? affordable housing.

  • by Blanca Marsh-Weinstock
  • 3 months ago
  • 1

Certainly, affordable housing is needed, but in what context and economic structuration? “As Speliotis highlights, Lander’s plan would be a repudiation of the affordable housing approach favored by every NYC administration since that of Rudy Giuliani in the latter half of the 1990s, which “has been overwhelmingly put in the hands of for-profit housing developers,” Lander said. Between 2015 and 2018, nearly 80% of city’s affordable housing subsidies went to private developers, according to a study by the Association for Neighborhood and Housing Development; the study found that in New York, nonprofit developers have tended to build more deeply affordable housing than for-profit developers. “That isn’t working,” Lander said. “That wasn’t working before pandemic, it isn’t working now. It doesn’t create housing where the need is greatest.” Under Lander’s plan, half the city’s subsidies would be earmarked for nonprofit developers

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