New Confidence for New York City Housing Authority

There’s a new confidence in the headquarters of the New York City Housing Authority (NYCHA) in downtown Manhattan. On Thursday, Feb. 2, the Authority promised to spend a massive amount of money to fix up apartments across its 178,000-unit portfolio.

More precisely, NYCHA has joined the City’s “Carbon Challenge” by promising to cut greenhouse gas emissions from its apartments 30% in 10 years. There’s no easy way to accomplish savings like that. New windows in all 178,000 apartments are probably just the beginning.

This isn’t the kind of pledge one expects from an organization that has fallen steeply behind in maintaining its properties. For decades, the Authority has suffered from steep federal funding shortfalls — unmet capital needs now add up to $17 billion. However, NYCHA is finding new funding sources and looks forward to budget surpluses going forward, along with its aggressive capital program.

For comments, questions or concerns, please contact Bendix Anderson

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