NYC Budget Aids NYCHA | Rebuild by Design | Higher Rents for Rent-Regulated

June 25th 2013

City Council Speaker Christine Quinn and Mayor Bloomberg announced agreement on the city’s budget. (William Alatriste)

  1. Panel approves 4% rent increase for NYC rent-regulated apartments. “Despite calls to freeze rents by three Democratic candidates seeking to succeed Mayor Michael Bloomberg, a panel appointed by the mayor voted for a rent increase of at least 4% for nearly a million city tenants in rent-regulated apartments, the largest such increase adopted since the financial crisis of 2008.” [Wall Street Journal – 06/20/13]
  2. New budget makes up for $58M of $205M in federal cuts to NYCHA; does not address Section 8 cuts. “The $70 billion budget, which does not include tax increases, kicks in $58 million for New York City Housing Authority to avoid most of 500 threatened layoffs -  and saves 20 fire companies that Bloomberg’s proposed budget threatened to eliminate.” [New York Daily News – 06/24/13]
  3. Chicago’s public housing experiment enters new phase:  building mixed-use. “The Chicago Housing Authority has torn down all of its high rises and says it’s close to completing its plans to transform public housing. Now, city leaders are moving to the next part of their plan. They’d use public housing funds not just to build homes for poor families but stores where they could shop and work. But some residents say the city is breaking a promise to provide affordable housing.” [NPR – 06/24/13]
  4. Chinatown residents feeling the squeeze as population shrinks and land values rise. “With its population shrinking and its property values rising, New York’s Chinatown is under siege, according to an exhaustive report released Friday.“Gentrification threatens to transform these previously neglected neighborhoods into tourist centers and destroy places were Asian immigrants have lived and worked for decades,” said Bethany Li, staff attorney with The Asian American Legal Defense and Education Fund, which authored the report.” [Crian’s NY – 06/21/13]
  5. $40 million in Sandy aid targeted to NJ affordable housing. “A new pool of apartments is expected to become available for low-and moderate-income residents affected by Hurricane Sandy through a pot of federal aid that will subsidize rental units, state officials said today.” [New Jersey Star Ledger – 06/21/13]
  6. Two design competitions challenge NYC to build better. “One silver lining from the storm clouds of Hurricane Sandy is that the aftermath of the disaster is keeping architects, designers and planners busy. This past week, two major competitions have been announced to design buildings that can help protect against rising tides and future storms.” [Crain’s NY – 06/21/13]
  7. Boston tweaks zoning laws with hopes to spur urban farming. “Proposed new zoning rules would allow for and promote commercial agriculture ventures, which are largely prohibited in the city under current regulations. Urban agriculture would create new business opportunities, the officials say, and tap into the growing demand from consumers who crave locally grown produce.” [Boston Globe – 06/24/13]
  8. Bloomberg pushes revitalization of ‘Downtown’ Staten Island. “In its last six months, the Bloomberg administration has made a primary focus its efforts to revitalize the area around the ferry terminal and nurture a long-imagined downtown. Officials are set Monday to unveil an incubator to foster businesses for small artists and craftsmen and a program that will pay select retailers to open shops and restaurants.” [Wall Street Journal – 06/23/13]
  9. Mortgage rates to stabilize soon, analysts say. “While rates on home loans are likely to remain modest by traditional standards, the ultralow borrowing costs that encouraged millions of homeowners to refinance and helped revive the moribund housing market are quickly becoming a memory.” [New York Times – 06/20/13]
  10. NYC community gardens are growing more than greens. “Turns out New York City’s community gardens grow more than just flowers and vegetables. After opening, these plots have shown a positive impact on surrounding property values, which grows steadily over time, especially in low income communities. [Furman Center’s The Stoop – 06/20/13]
« Previous | The Stoop | Next »