New York seeks to address homeless crisis with bill to build 1,000 new flats a year
Developers of designated affordable-housing projects will have to set aside 15% of units for the homeless
New York
AS New York City grapples with record numbers of homeless people, Mayor Bill de Blasio has faced deepening criticism that his plan to create more affordable housing, a signature effort of his administration, has done little to help people move from shelters into stable homes.
In an effort to address the shortfall, city officials have agreed to force developers of designated affordable-housing projects to set aside 15 per cent of the units for the homeless.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co