A new study by the Community Service Society has found that New York City lost an astonishing percentage of apartments affordable to low-income residents over the past decade. The study supports Mayor de Blasio's "tale of two cities" narrative.
To achieve his goal of expanding the city's supply of affordable housing, a new report suggests New York mayor Bill de Blasio has a tough task ahead of him. "The Bloomberg administration marshaled billions of dollars to create and preserve affordable housing, but a new report said the city lost 40% of apartments for low-income residents over the last decade," reports Laura Kusisto.
From 2002 through 2011, the city lost more than 385,000 units of housing that would be affordable to a demographic that makes up about 40% of the city, she explains.
"Affordable-housing advocates point to a couple of factors: One is the ability of landlords to raise rents after renovating rent-regulated apartments, eventually allowing them to convert those apartments to market-rate. Another is rapidly increasing rents in gentrifying areas, such as Harlem and the Corona neighborhood of Queens."
Advocates and scholars disagree on whether strengthening rent-stabilization laws or encouraging the construction of more market-rate housing offers the best solution.
FULL STORY: City's Affordable Housing Units Dwindle
‘City of Yes’ Zoning Reform Gains Planning Commission Approval
The proposal to overhaul New York City’s zoning code, popular with voters, to make housing development easier faces opposition in the City Council.
Can NYC Produce Half a Million Housing Units in a Decade?
The city’s ambitious ‘City of Yes’ zoning reform plan requires a broad array of sometimes controversial policy changes.
NYC Agencies Tasked With Finding Affordable Housing Sites
Mayor Eric Adams signed an executive order that requires city departments to evaluate their properties for potential housing development.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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