Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Long story short NYCHA's project housing are showing their age and will require a vast amount of funds for maintenance and much needed repair/upgrade work.
Long story short NYCHA's project housing are showing their age and will require a vast amount of funds for maintenance and much needed repair/upgrade work.
That's a lot of money for repairs. That's more money than NASA's annual budget. NYCHA needs to be reformed so that it can be a profitable agency. For one is that residents should pay for utilities but the utilities would be subsidized. If tenants make more than a certain amount and or have a small family size than they should not pay a rent that is 1/3 of their income, instead maybe half. Last? Turn some units in developments into first time owners or cooperative buildings. Make sure that those who work for NYCHA should contribute more money into their health insurances instead of having the city to pay for it. Its not the best solution but can stave off money in the long run.
Why would any sensible developer do that when they can buy elsewhere and set the prices to whatever they want?
Have you seen land prices in NYC lately, especially Manhattan south of Harlem?
Given the proper incentives private developers would be more than happy to work on certain public housing sites in Manhattan and certain parts of say Brooklyn or Queens.
Have you seen land prices in NYC lately, especially Manhattan south of Harlem?
Given the proper incentives private developers would be more than happy to work on certain public housing sites in Manhattan and certain parts of say Brooklyn or Queens.
"Given the proper incentives" is key. It'll be tough to motivate developers when they know from the beginning their revenue is capped. What's going to happen if the cost of maintenance and upkeep is greater than the rent they collect and the subsidies they get from the city? Does the city increase subsidies? They can't raise rents.
At the end of the day, these developers have to turn a profit. The city does not.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
