NEW YORK: Never Enough Affordable Units
It's more likely Derek Jeter will win rookie of the year than it is for a New Yorker in need to get affordable housing. Capital One's Laura Bailey tells us Broadway Housing Communities' 124-unit development in Harlem's Sugar Hill drew 48,000 applications for the 98 affordable units. Mayor de Blasio will soon announce his plan for 200,000 units of affordable housing in NYC. That follows Community Preservation Corp's commitment this month of $200M for 3,500 affordable units statewide. And yet demand is rising. Another affordable project Laura is involved in drew over 40,000 apps recently. That has become typical, says Laura (above), adding that there always was a supply-demand imbalance, but NYC no longer is treading water.