A 37% increase in total apartments, but only 16% more affordable units. Union support and affordability criticism at advisory body meeting. Coming: Memorandum of Understanding.
So the state kicks in another $700 million and gets an additional 366 subsidized units?
That's $1,912,568 for each additional subsidized unit. Nice work if you can get it
I doubt that is their math.
First, they'd calculate it as getting the 1,242 units yet to be built.
Also, the affordable housing is often dependent on tax breaks and/or low-cost financing--more public support.
I think the expenditure is likely calculated as:
--getting the project done/ending an embarrassment
--filling in a key gap in Brooklyn
--adding to the housing supply
--staying on good terms with construction unions
It's hard to justify it, however, without (at minimum) any deliverables.
A lot of people sounded optimistic. However, as I reported, there's not yet any plan for oversight and accountability.
So the state kicks in another $700 million and gets an additional 366 subsidized units?
That's $1,912,568 for each additional subsidized unit. Nice work if you can get it
I doubt that is their math.
First, they'd calculate it as getting the 1,242 units yet to be built.
Also, the affordable housing is often dependent on tax breaks and/or low-cost financing--more public support.
I think the expenditure is likely calculated as:
--getting the project done/ending an embarrassment
--filling in a key gap in Brooklyn
--adding to the housing supply
--staying on good terms with construction unions
It's hard to justify it, however, without (at minimum) any deliverables.
A lot of people sounded optimistic. However, as I reported, there's not yet any plan for oversight and accountability.