The de Blasio administration plans to put up hundreds of market-rate apartments on public land at NYCHA developments in two hot real estate neighborhoods, officials said Wednesday.
The plan targets two developments — Wyckoff Gardens in Boerum Hill, Brooklyn, and Holmes Towers on the Upper East Side — both in neighborhoods where land is considered “high value.” NYCHA would either sell to or enter into 99-year leases with developers to build more than 1,000 units, half to be affordable and half to rent at market rates.
The plan would allow the cash-strapped housing authority to build more affordable housing and also generate revenue, officials said.
De Blasio’s mixed-use project is a slightly revamped version of a failed plan by his predecessor, Mayor Michael Bloomberg, who suggested the developments be 80% market rate apartments.
The Bloomberg plan — which specifically targeted eight Manhattan developments — was attacked by tenants who felt they hadn’t been consulted. Many were also concerned it would further exacerbate gentrification in their rapidly changing neighborhoods.