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Reader comment on:
Manhattan Housing Cycle Turns Toward Rentals
in response to reader comment: Just another reason rents are high

Submitted by Jabari Henderson-Brown, Dec 4, 2006 12:13

The government does not always require that 20% of new rental units are controlled. However, if a developer wants zoning changes, he has to go through the community board, which often requires some form of affordable housing. You also forget taht developers get subsidies for affordable housing. That HFA financing is at a very low interest rate, which at least partially offsets the difference in rental rates. If no developer were to build affordable housing, where do you think people who make $40K a year should live? Do you think that only a handful of people in the city make under 50% of AMI?

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Reader comment on:
Manhattan Housing Cycle Turns Toward Rentals
in response to reader comment: Just another reason rents are high

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Comment on Manhattan Housing Cycle Turns Toward Rentals

Reader comment on:Manhattan Housing Cycle Turns Toward Rentalsin response to reader comment: Just another reason rents are high

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Comment on Manhattan Housing Cycle Turns Toward Rentals

Reader comment on:
Manhattan Housing Cycle Turns Toward Rentals
in response to reader comment: Just another reason rents are high