New York & Tri-State + Apartments | December 19, 2018

RPA Sees “State of Crisis” in NYC Public Housing

The de Blasio administration’s newly-issued NYCHA 2.0 plan aims to provide about $24 billion to address badly-needed repairs to the city’s aging public housing stock. However, a report from the Regional Plan Association (RPA) says the New York City Housing Authority’s actual capital requirements are more than $45 billion.

“Our public housing has now reached an unprecedented state of crisis,” according to RPA’s report. “While both the city and the state have recognized the seriousness of the situation and begun taking real and meaningful steps to address it… all stakeholders have recognized that much more will be needed to return and keep New York’s public housing in a safe, healthy and stable condition.”

Expensive as fixing NYCHA’s 176,000 apartments would be, not doing so would cost even more, RPA warned. It cited a loss of 20,000 workforce residents and of $1 billion in annual economic activity, among other consequences.

Subscribe to Connect Daily New York

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Download the reportConnect With RPA

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints