Although Mayor Bill de Blasio's recent announcements provided some important details about his administration's affordable housing agenda, there are a few questions still left to be answered that will determine the success of the plan.
Greg David points to three numbers that—although not as compelling as the 200,000 total number of affordable units targeted by the plan—will determine how well the plan works in improving New York City's housing affordability troubles. The numbers are five (the total percentage increase in affordable housing units), seven (the targeted return on investment for housing developments), and eight (the total amount in billions of the city's planned in investment in affordable housing).
The problem with the five percent total growth in affordable housing, according to David: "So the plan may create affordable apartments for a group of New Yorkers, but it won't make the city more affordable as a whole because the housing supply won't increase enough to satisfy growing demand."
David goes on to detail the reasons the latter two figures mean that New Yorkers should temper their expectations about the overall impact of the plan.
FULL STORY: Mayor has a housing dilemma
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Google Maps Introduces New Transit, EV Features
It will now be easier to find electric car charging stations and transit options.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
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