WebApr 8, 2024 · In 2024, Curbed reported that the New York City Housing Authority planned to generate $1 billion from selling over 80 million unused air rights for the purpose of capital repairs. New York City has a Voluntary Inclusionary Housing program to enable developers and owners to build or preserve, more affordable housing in the city. WebApr 29, 2024 · The New York City Housing Authority (NYCHA) owns roughly 80 million square feet of unused air rights that may be up for sale soon. In addition to selling air rights, the proposed 10-year planfrom NYCHA also includes handing over management of about 35% of its controlled units to private management companies.
NYCHA ramps up air rights sales to developers - Curbed NY
WebNov 5, 2024 · The most recent plan, called NYCHA 2.0, employs a suite of initiatives to raise private capital, including selling off development rights, allowing developers to build on NYCHA land, and putting ... WebDec 13, 2024 · The sites and air rights have not yet been selected. City officials said that NYCHA is not being privatized and the authority will still own its tens of thousands of … race horse deaths 2020
Hidden in Plain Sight: Billions in Potential Revenue for NYCHA
WebDec 2, 2024 · Selling these rights, they estimate, could yield $4.2 to $8 billion for NYCHA repairs. The key to unlocking these revenues is to allow the authority more flexibility than typical property owners in moving its Transferable Development Rights around the city. By moving NYCHA air rights across the street, up to a half mile away, or within a ... WebJul 15, 2024 · The city will sell un-used air rights to developers who control property adjacent to public housing. Purchasing the air rights will allow a developer to build new projects or enlarge... WebDec 12, 2024 · The de Blasio administration plans to sell New York City Housing Authority unused air rights to developers for the first time, the mayor announced Wednesday as … shoe box containers clear