The federal 203(k) program is supposed to help nonprofits buy and rehab run-down properties, but in New York, profiteers have snatched up apartments at bargain prices and bilked the rehabbers…
Hundreds of public housing tenants swarmed a public hearing last week about NYCHA’s five-year plan, which they say is too vague in some parts and wrong in others.
According to sources both inside and outside New York’s public housing system, billions of dollars of maintainence are being put off, and the buildings are really showing it.
