New York City Council wants billions for affordable housing nonprofits
05/29/24 • 20 min
The New York City Rent Guidelines Board begins public hearings this week and as always, we’re expecting an unhelpful spectacle. Meanwhile, the City Council is in the middle of budget negotiations, and members are pushing to spend billions on transferring ownership of rent-stabilized buildings to nonprofits. Given the current costs of maintaining these buildings, how these nonprofits would remain solvent remains to be seen.
Stories cited in this episode:
The Daily News: The Rent Guidelines Board must keep rents down
The City: Regulated Apartments Vanish at Rising Rate, Rent Board Learns as It Readies Hike Vote
City Limits: Council Pushes for More Housing Funds As City Budget Negotiations Enter Final Weeks
The Real Deal: Nonprofit Developers Back Progressives’ Housing Funding Plan
The Real Deal: NYC pension fund pumps $60M investment into Signature loans
Gothamist: 64 office buildings in NYC could become new housing
City & State: Progressives launch campaign to get upstate cities to opt in to ‘good cause’ law
The City: NYC Property Owners Could See Their Water Bill Rise by 8.5%
BisNow: Unpaid Rent Is Still Piling Up, Threatening The Future Of NYC’s Affordable Housing
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The New York City Rent Guidelines Board begins public hearings this week and as always, we’re expecting an unhelpful spectacle. Meanwhile, the City Council is in the middle of budget negotiations, and members are pushing to spend billions on transferring ownership of rent-stabilized buildings to nonprofits. Given the current costs of maintaining these buildings, how these nonprofits would remain solvent remains to be seen.
Stories cited in this episode:
The Daily News: The Rent Guidelines Board must keep rents down
The City: Regulated Apartments Vanish at Rising Rate, Rent Board Learns as It Readies Hike Vote
City Limits: Council Pushes for More Housing Funds As City Budget Negotiations Enter Final Weeks
The Real Deal: Nonprofit Developers Back Progressives’ Housing Funding Plan
The Real Deal: NYC pension fund pumps $60M investment into Signature loans
Gothamist: 64 office buildings in NYC could become new housing
City & State: Progressives launch campaign to get upstate cities to opt in to ‘good cause’ law
The City: NYC Property Owners Could See Their Water Bill Rise by 8.5%
BisNow: Unpaid Rent Is Still Piling Up, Threatening The Future Of NYC’s Affordable Housing
Visit our website for more information.
Follow Us:
BlueSky
X
Instagram
Tiktok
Previous Episode
Improving housing vouchers and tackling homelessness with special guest Shams DaBaron
Housing New York sheds light on the politics and the public policy shaping the future of New York City housing.
This week, Jay speaks with Shams DaBaron, aka ‘Da Homeless Hero,’ a homelessness advocate fighting to expand, and reform, housing voucher programs in New York City.
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Next Episode
RGB defunds buildings, again.
The NYC Rent Guidelines Board voted Monday to raise rents by 2.75% on one-year leases and 5.25% on two-year leases – not nearly enough to cover the skyrocketing cost of maintaining a rent stabilized building.
That didn’t stop tenant advocates from protesting the increase: board members were heckled, protesters were arrested, and the unsustainable status quo was extended for another year.
This week on Housing New York, Jay looks at how intense political pressure has corrupted the rent guidelines process and what might be done to fix it.
Stories cited in this episode:
amNY: Renters want vouchers. Lawmakers should take notice.
Gothamist: Trifecta of NYC utility hikes could bring double-digit increases: What to know
City Limits: NYC Council Asks: Who Should Pay the Broker Fee?
The Real Deal: Real estate winners and losers in NY legislative session
Gothamist: NYC buildings inspector pleads guilty to accepting bribes, Queens DA says
Times Union: DOJ settles with company N.Y. hired to handle rental assistance
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