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"Affordable Housing" aka more welfare housing for parasites that can't actually afford to live in this city. They can be counted on for votes though.
Probably being built with a mix of market rate + 'affordable'. In reality after a few years the market rate tenants will get tired of the behavior of the 'affordable' tenants and move out. Eventually the entire building will be 'affordable' (welfare tenants), which was the whole idea in the first place. A 'NYCHA 2.0' is the ultimate goal of all this crap.
My opinion.
I have been around long enough to follow this trend.
This is my take.
Raising structures is nothing more than a job.
Any mechanic can understand. A part breaks. You replace it.
Same rule applies. A neighborhood breaks. You replace it.
They call it gentrification.
I would call it kicking your low rent paying butts out the neighborhood.
Business is business.
Neighborhoods today are not replaced one neighborhood at a time.
This is a very coordinated cycle of profit setup to flow from one neighborhood
into another and keep families of investors rich for generations.
In time the new neighborhood will rise as well as prices. People with
few options eventually be displaced. The neighborhood in style for those
with money today will lose it's flavor over time. The money will leave.
Investors will sell. Collect their monies and move onto the next job.
Rinse and Repeat.
These new neighborhoods may work well for older folks with a foot in the grave
but may be difficult for young families over time unless you have employment that
can keep up with surrounding increases.
Looking for true stability as a young family New Yorker ?
Look for a place where zoning is strictly regulated and little room to build.
Yup. THat boring little neighborhood that nobody notices. Under the radar
that will remain boring for the next 20 years.
Take it or leave it.
Best Wishes.
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