Housing and Development
What Ever Happened to CBAs? The Rise and Fall of ‘Community Benefits Agreements’ in NYC
|
Once a seemingly promising structure to ensure that real estate groups don’t run roughshod over local neighborhoods in development deals—and still a common practice in other cities—CBAs are now disdained by many New York City community groups and developers alike. The mechanism’s demise is a lesson, development experts say, in both the strength and limitations of demanding concessions in exchange for neighborhood-changing construction projects.
