New York to use public housing and school property for luxury high-rises

In a move intended to begin the privatization of public housing stock, the New York City Housing Authority (NYCHA) announced last month that it will accept requests for proposals from private contractors to build luxury housing on the property of eight of its developments in Manhattan.

Developers will be allowed to build over three million square feet of market-rate apartments. The property will be leased for 99 years to building owners, and payments to NYCHA will be frozen for the first 35 years. The property is currently occupied by parking lots, playgrounds, and other open areas inside of and adjacent to the developments.

Over 400,000 low-income and poor New Yorkers live in the 335 NYCHA developments citywide. NYCHA housing accounts for approximately 9 percent of the city’s rental apartments, and provides some of the only affordable housing in Manhattan. Read more >>