What is Bill de Blasio’s next move for New York City?

By | March 30, 2014



title insurance, New York,New York City,Long Island,Michael HaltmanNYC Mayor Bill de Blasio was swept into office on a promise of narrowing the income gap in New York City along with a slate of other proposals that would, if placed on the political spectrum, be considered some distance to the left of center.

With the NYS legislature in Albany on Saturday appropriating $300 million for the funding of pre-K, one of the Mayor’s campaign promises, it is expected that the next item on the agenda to be addressed will likely be the expansion of affordable housing within the five boroughs of NYC.

For anyone familiar with both the cost to buy as well as rent in New York City there is no question that finding something affordable can be quite the challenge (New York City apartment rentals: How far does a $1 go? and Median 1-BR and 2-BR Rents By Neighborhood in New York City! (Maps)).

But just how the Mayor will accomplish his goal of 200,000 affordable housing units over the next 10-years has not yet been unveiled. Speculation is that he will try to put them inside of already existing buildings or to mandate that any buildings that are currently being proposed include some percentage of units for lower income tenants.

It is thought that what is not going to be proposed are the type of stand-alone buildings like those in public housing projects.

Next up is de Blasio’s attempt to push back on the soaring rents that are increasingly making New York City out of reach to all but the very wealthy. His goal, oft-repeated in the mayoral campaign, is to build or preserve 200,000 affordable units of housing over the next 10 years for lower-income New Yorkers, a staggering number that would house a population bigger than cities such as Atlanta or Minneapolis. The lofty goal would also exceed the output of a pair of New York mayors who served three terms: Ed Koch produced 190,000 units over 13 years while de Blasio’s predecessor, Michael Bloomberg, created or saved 165,000 units over 12 years. (Source)

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