Streams

What's the Best Way to Create Affordable Housing?

Monday, February 24, 2014

New York Observer reporter Chris Pomorski looks at why efforts to incorporate affordable housing into the major real estate development plans like Hudson Yards have had mixed results—and what changes the de Blasio administration plans to make. He's the author of the article "Is Manhattan for Everyone? The pied-à-terre and the ‘poor door’."

 

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Comments [20]

IMHO

[[Renter from East Village

No mention of mandatory affordable housing that is now being debated.
To afford Bloombergs affordable housing your income must be between 70,000 and 140,000 per year. For incomes 30,000 and below there is zero affordable housing under Bloombergs plan.
Feb. 24 2014 01:45 PM]]

Right. So leave. Or stay and stop yer yapping.

Feb. 24 2014 06:05 PM

"thatgirl from manhattan", 03:30 PM, wrote:
"The use of screaming caps is always a sign of faux rage."

What exactly constitutes "screaming caps"?

/One/ word for emphasis, out of an entire post, is necessarily "screaming"?

In a forum that only supports plain-text? (and therefore precludes the use of italics, bold or underlining for emphasis)

/Placing/ *text* _between_ slashes, asterisks or underscores may be more elegant and refined than resorting to the dreaded ALL-CAPS but how many people are even familiar with such more subtle options?

"always a sign of faux rage"

1.) Why /faux/ rage?

Is anger or frustration only /genuine/ when /you/ are sympathetic to it?

2.) /Always/?

Or only when what is being so-emphasized doesn't meet your approval?

Gratuitous use of all-caps (as well as multiple exclamation points!!!) is a hallmark of a regular poster who has numerous posts on this very page.

I've never seen you mention anything about it to /him/. (And I'm fairly sure that, were I take the time, I could come-up with other, similarly telling examples of /selectivity/ in criticizing writing-style.)

Feb. 24 2014 04:31 PM

The facts are that expensive condos pay a transfer tax well beyond any admin cost. A 10 million dollar condo would pay transfer tax of nearly $ 300,000. In addition property taxes are another source of revenue. Now maybe thatgirl gets paid that kind of money but I am guessing that $300k more than covers the salary of lot of clerks in New York County offices with a "little" change left over for paying for the benefit programs all over this city.

Feb. 24 2014 03:37 PM
thatgirl from manhattan

And yeah--interviewing a writer from the Observer about "affordable housing" is akin to asking Rupert Murdoch about Head Start programs; no vested interest is required of them to claim "expertise."

phil12's consumption of Bloombergian Kool-Aid proves a point: he's wiling to avoid the subject of tax avoidance for those owning pieds a terre here, including that of consumption and income tax--most are not considered "local residents." NYC enjoys low residential real estate taxes compared to cities like London, Paris, Zurich, and others, so paying them here, with a guaranteed return on investment resembles a mere parking of one's money--and a temporary parking at that.

The use of screaming caps is always a sign of faux rage. Works better on foxnews.com

Feb. 24 2014 03:30 PM
thatgirl from manhattan

BK from Hoboken - Indeed--what do you care? You live in Hoboken.

Those with pieds-a-terre don't pay daily consumption taxes, or income tax on the money that buys them that condo. Transfer Tax is just that--a one-time bump that covers the administration of title change at a sale. It's not a sustainable, ongoing source of revenue from a single property. Again this echelon of buyer has no interest in civic life or the welfare of his fellow city denizens, so let's not festoon them in ribbons of gratitude.

Hells Kitchen people: it's already too late for you to affect standards--that train left the station long ago. The time to have done it was when the Department of Buildings was approving the plans pre-build. Some good can usually be done at the Community Board level, too; but again, that was long before ground was broken.

Feb. 24 2014 03:21 PM

The wealthy buying these condos are MASSIVE contributors to the tax coffers of NYC. They pay huge property taxes at a Minimum and possibly significant income taxes. Given all of the benefit programs in this city , these tax receipts are essential to balancing the budget. The overall state of the city benefits when it is viewed as an attractive place to live. The knee jerk reaction of the liberals littering this website are very amusing. But do not let facts get in the way of your propaganda. Certainly Lenny the Liberal has well fitted blinders pushing out an endless stream of bashing those who support NYC.

Feb. 24 2014 03:13 PM
BK from Hoboken

Just the NYC transfer taxes alone on a $20M condo contributes $845,000 in transfer taxes paid by buyers and sellers. So even if they don't move in, who cares? The Russian if arch is paying a lot of taxes to have his pied a terre and he doesn't have kids in school, etc. what do I care? Real estate prices in the realm like this don't impact me as an everything day guy.

Feb. 24 2014 02:05 PM

EAT THE OLIGARCHS!!

Feb. 24 2014 02:00 PM
Renter from East Village

By the way, the NY Observer is very pro Real Estate interests.

Feb. 24 2014 02:00 PM

The median income of $4333/mth is PRE TAX BTW!!!

"What's for dinner, mom??"

"…just like last night…NOTHIN'!!!"

Feb. 24 2014 01:59 PM

How 'bout some actual architecture?!?

Feb. 24 2014 01:57 PM
helz kitchen from hells kitchen

Most of the proposed buildings in the New Hudson yards neighborhood seem reasonable but the developer for the building on the corner of 11th av and 38th st is known for cheaply constructed unattractive buildings. What is the best way for the community to try to maintain standards in a neighborhood?

Feb. 24 2014 01:56 PM

How 'bout the absentee, non-tax paying oligarch owners artificially inflating real estate values!?!?

Feb. 24 2014 01:55 PM
oscar from ny

This city is pregnant with evil...

Feb. 24 2014 01:55 PM
Patricia Childers from hells kitchen

I live in the Hudson Yards area. Most of the proposals for new buildings are not bad but the developer for the proposed building on the corner of 11th and 38th is known as a hack. What is the best way for the community influence standards for the neighborhood?

Feb. 24 2014 01:53 PM

$4333/median monthly income ≠ $3017 median monthly rent

BS!!!

Feb. 24 2014 01:53 PM

Veteran NYC radio commentator Jay Diamond pointed-out how the real estate market in New York City and especially Manhattan is completely unnatural. The wealthiest people from all over the world buy apartments here that are used as little as once-a-year or less.

Feb. 24 2014 01:47 PM
Renter from East Village

No mention of mandatory affordable housing that is now being debated.
To afford Bloombergs affordable housing your income must be between 70,000 and 140,000 per year. For incomes 30,000 and below there is zero affordable housing under Bloombergs plan.

Feb. 24 2014 01:45 PM
Peg

The "projected" target minimum wage is $10.10/hr. This results in the possibility of $1800.00 per month - total income. How are the lowest wage workers, even at the proposed "minimum wage" supposed to afford NYC housing without taxpayers supplementing the obvious deficit? Why do republicans support Earned Income Credits rather than Living Wage, when the IEC is paid by TAXES?

Feb. 24 2014 01:43 PM
thatgirl from manhattan

The "more wealthy residents equals more tax dollars for local needs" is complete ishkabibble. Those buying multi-million dollar co-ops and condos more often than not use them as convenient pieds-a-terre that get flipped for high profit after being built. These people don't pay the consumption taxes you and I do every day, just for living here, and their income is usually taxed elsewhere, with the usual tax-avoidance advantages of the wealthy.

Employers should start caring about housing being affordable, lest the talent decide to take themselves to other markets.

Feb. 24 2014 01:42 PM

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