Submitted by psychothumbs t3_10m4aoz in nyc
09-24-11 t1_j63i41y wrote
Reply to comment by psychothumbs in Mayor Adams unveils proposal to convert Midtown offices into apartments by psychothumbs
If the city is able to convert these offices (and there are a lot of them) into expensive market rate apartments that is a step in the right direction. THEN the city and people can have the option to BUILD new affordable housing. So now there is housing stock for high, medium and low earners.
Will that happen? I fully doubt it. Every conversion and new project will be marketed to luxury renters and the “affordable” housing will be smaller/independent landlords.
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