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this is not the 1970s or 1980s when there were widely a lot of affordable units from private building owners for working class people. There is now no such thing as affordable apartments anymore for any of the working class at least not by building owners.
/thread
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
I see nothing that as of statute requires those applying/residing in NYC "affordable" housing to be US citizens or even residents of NYC or NYS. NYCHA is another matter.
For people drawing the race card, it just shows how ignorant people are when it comes to economics and development in NYC. Developers/sponsors/investors care about making money and making it quick. They answer to their shareholders NOT working class people or the City. It's not like these developers have unlimited capital.
There is only so much the City can do to entice them to build in certain places. Why build in Bensonhurst area vs. Prospect Heights? Developers can charge top dollar in Prospect Heights plus an area like that is a quick train ride to Manhattan. It seems as if some are calling for the City to become major developers themselves. Some people blame rent stabilization for distorting the RE market (I have no opinion of this); but another huge factor is foreign money, some of which is dirty. The City and feds have no serious incentive to crack down on this, though the Obama administration did take some half-hearted initial steps last year (google it).
There is no policy to whiten Black/Latino areas. It just so happens that these groups (and I fall in one of them) happen to populate some of the most desirable areas in NYC. Most of these developers are Jewish with even some Russians, so I don't see the race factor. When they come to our firm to certify their financial statements for the City or the IRS (for those receiving tax credits or federal funds like HOME etc.), their main concern is their return on investment. Ultimately, the City cannot force developers en masse into South Brooklyn. There are some small projects there that many might not be aware of tho.
"As an out of city or state resident can I apply for an HDC financed affordable apartment?"
"Out of town residents can apply for an HDC financed affordable apartment; however, preference is given to current New York City residents."
Now if you "understand" something different, please by all means bring it, this why we can all verify.
Interesting. I applied for a moderate income Mitchell Lama coop. It did state that to continue to qualify (while on the wait list) I needed to be a resident of NYC.
Interesting. I applied for a moderate income Mitchell Lama coop. It did state that to continue to qualify (while on the wait list) I needed to be a resident of NYC.
For people drawing the race card, it just shows how ignorant people are when it comes to economics and development in NYC. Developers/sponsors/investors care about making money and making it quick. They answer to their shareholders NOT working class people or the City. It's not like these developers have unlimited capital.
There is only so much the City can do to entice them to build in certain places. Why build in Bensonhurst area vs. Prospect Heights? Developers can charge top dollar in Prospect Heights plus an area like that is a quick train ride to Manhattan. It seems as if some are calling for the City to become major developers themselves. Some people blame rent stabilization for distorting the RE market (I have no opinion of this); but another huge factor is foreign money, some of which is dirty. The City and feds have no serious incentive to crack down on this, though the Obama administration did take some half-hearted initial steps last year (google it).
There is no policy to whiten Black/Latino areas. It just so happens that these groups (and I fall in one of them) happen to populate some of the most desirable areas in NYC. Most of these developers are Jewish with even some Russians, so I don't see the race factor. When they come to our firm to certify their financial statements for the City or the IRS (for those receiving tax credits or federal funds like HOME etc.), their main concern is their return on investment. Ultimately, the City cannot force developers en masse into South Brooklyn. There are some small projects there that many might not be aware of tho.
Good post. I gave Reps.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
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