These kinds of ideas have the potential to set our housing market on fire, if that isn’t already the case. Imagine if NYCHA scaled up this concept and offered more opportunities with other properties. If low interest rates weren’t enough, developers would have an entirely new reason to pour cash into the market: earning tax free resources behind the guise of protecting affordable housing. Just don’t reveal how your investments in luxury Brooklyn condos or how your high end condos just blocks away from one of your newly inherited NYCHA properties is contributing to a Citywide wave of poverty displacement. And certainly never whisper about what that could mean for the future demand on public housing….
Supporting censored journalism starts with seeing the whole story.