I'm posting this here because 555Ten is mentioned.
Article: Big developers weigh in on new 80/20 building homeless policy
Some of city’s top developers and housing officials met at the offices of the Real Estate Board of New York last week to discuss the city’s new policy of referring homeless shelter residents to buildings developed with the 421a tax credit.
The policy, which gives the city the right to reserve a portion of so-called “community preference units” for the homeless in buildings that are 80 percent market rate and 20 percent affordable, was buried in an updated affordable apartment marketing materials released by HPD last month, as TRD exclusively reported two weeks ago.
Now developers and policy makers, with the real estate’s most powerful lobby as the broker, are hashing it out.
The new policy would affect Gary Barnett’s latest west-side luxury building, 555Ten, according to the Times. The project received tens of million of dollars in 421a tax breaks in exchange for 120 affordable apartments. The deadline for that building’s affordable housing lottery was July 6 of this year.
NYC Homeless Housing | NYC HPD | 80/20 Buildings
And here's the Times article:
Builders That Got Tax Breaks Must Set Aside Some Units for Homeless, City Says
The city quietly rolled out the new policy over the past several weeks. Some developers, fearing an influx of tenants with drug or alcohol problems or in need of mental health services, “freaked out” upon learning about it, said Alvin Schein, a real estate lawyer opposed to the new policy. Some worried that their buildings’ reputations would be tarnished by the presence of people who had been homeless. City officials have tried to allay those fears, saying the apartments would not go to people who needed extensive social services, but to those who had simply been priced out of New York’s housing market.
http://www.nytimes.com/2016/11/05/ny...city-says.html
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