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Old 10-02-2014, 01:17 PM
 
218 posts, read 473,186 times
Reputation: 25

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My parents live in the NYCHA elliot houses and a few years back they had my parents sign a petition to convert the NYCHA buildings into co-op's to buy. I know it might be impossible but any word on if this will ever be possible? I also grew up in the area and would like to return, anyone know of any new middle income affordable housing around the area? We tried for penn south but didn't get an application.
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Old 10-06-2014, 08:14 AM
 
Location: Manhattan
25,368 posts, read 37,053,451 times
Reputation: 12769
Conversion of NYCHA is not likely.

Of course, Penn South is very desirable but you will wait 10 years after you get an application in.
Your best bet is to get on developers' mailing lists for 80/20... Start with RELATED.
But be warned, the income limits are VERY low.

"Middle Income" affordables are scarce as hen's teeth and pretty much relegated to Mitchell Lama or, ha ha, Rent Stabilized apartments...but crooked landlord's are taking them off the market illegally as soon as they are vacated while the City and State look the other way.

Last edited by Kefir King; 10-06-2014 at 08:32 AM..
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Old 10-06-2014, 12:02 PM
 
345 posts, read 853,034 times
Reputation: 156
I've been hearing that for years now. I remember when Giuliani was in office he wanted to convert the projects into private ownership, similar to Mitchell lama. I think he said the city shouldn't be landlords. The problem is too many poor people living in the projects. You wouldn't have enough insiders who would be willing to buy. Not to mention that the place would need major upgrades.
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Old 11-07-2014, 11:48 AM
 
218 posts, read 473,186 times
Reputation: 25
Anyone live in these projects or surrounding area? I would like to start a group for this.
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