“The real estate industry will play a key role in implementing these new standards and must move quickly to do so. That task might seem daunting, but the affordable housing sector has demonstrated that sustainable construction is both feasible and financially viable.”
The reality is that, no matter how streamlined its management nor how transparent its spending plans may be, NYCHA just does not have the resources it needs.
The latest data shows that the city has accomplished much already – but that more needs to be done to ensure that everyone who wishes to call our great city home can afford to do so.
‘Simply put, the impact of this tax credit deferral would be a reduction in the industry’s ability to build and preserve much-needed housing for low- and middle-income New Yorkers – especially right here in New York City.’
‘The city and state will have to work harder – and increase their level of collaboration – in order to continue financing tens of thousands of affordable homes each year.’