New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Homeless “Cluster Site” Buildings to Be Bought or Seized
City officials plan to help nonprofit developers buy up “cluster site” buildings — apartments that are currently used to house homeless families — and convert them into permanent affordable housing.
If negotiations to buy cluster site buildings are not successful, the City will use eminent domain to acquire them.
Since about the turn of 2000, New York City has rented space in apartment buildings to shelter homeless families, a practice that the de Blasio Administration committed to ending last February. The City has so far identified 25 to 30 cluster site buildings that qualify for its new program. Only buildings where 50% or more of apartments are cluster apartments will be considered.
“This initiative will transform dozens of dilapidated temporary apartments into quality, permanently affordable homes. The effort is a clear sign that we will go to any length necessary to help our neighbors get back on their feet,” said Mayor Bill de Blasio.
For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson

