Print More

FYI: About ten percent of federally-subsidized housing built in New York City–or, more than 9,000 of the nearly 92,000 units built since the 1960s–has since disappeared from the city’s stock of affordable housing, largely in the last five years, according to a Community Service Society report released yesterday. Over 6,000 of the converted units went into the private rental market as landlords bought out of affordable housing programs. But more troubling, says CSS researcher James DeFilippis, is that another 25,500 units are in buildings where the Housing and Urban Development contract will expire in the next two years, leaving them to transition out of the federally-subsidized housing pool as well. [6/24/03]

Leave a Reply

Your email address will not be published. Required fields are marked *