Via Creative Commons
A group of real estate groups and individual property owners filed a lawsuit Monday, challenging newly passed laws that strengthen rent and tenant protections in New York City. Last month, Democratic officials in Albany passed a landmark package of bills that close loopholes that have allowed landlords to increase rents and deregulate stabilized apartments. The lawsuit, filed by the Rent Stabilization Association (RSA), the Community Housing Improvement Program (CHIP), and seven individual property owners, claims that the laws, as well as the entire rent regulation system, violate the 14th and Fifth Amendments of the U.S. Constitution, as reported by The Real Deal.
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Following years of efforts to keep a report about segregation in the city’s affordable housing lottery system under wraps, a federal court ruling finally led to the report’s release on Monday. As the New York Times first reported, the findings, written by Queens College sociology professor Andrew A. Beveridge, found unequivocal racial disparities at every stage of the process and in every community district where a majority of residents are of one race or ethnicity.
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Last month, Gov. Andrew Cuomo put out a request for proposals for 5 World Trade Center, the last remaining site at World Trade Center’s southern end and the former home of a Deutsche Bank Building that was severely damaged during the September 11 attacks. The RFP seeks commercial or mixed-use proposals for a roughly 900-foot-tall building, that may include a residential component. As the process continues to unfold—and rapidly, with a site tour for interested developers scheduled on July 22—local residents worry that their voices are being left out, as Daily News reported.
Via StuyTown Property Services
As 6sqft reported last month, the state recently passed legislation containing landmark changes to rent regulations that were set to expire, significantly strengthening New York’s rent laws and tenant protections. Private-equity giant Blackstone Group, who purchased the massive 11,000+ unit Stuyvesant Town and Peter Cooper Village apartment complex for $5.5 billion in 2015, is among landlords who say the new rent regs will keep them from making important property upgrades, Crain’s reports. Blackstone says it is pausing apartment renovations and other planned work at Stuy Town and Peter Cooper Village as a result of rule changes which dramatically limit the allowable rent increases landlords can charge as a result of renovations and repairs.
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Rendering courtesy of Reside New York
If you don’t mind waiting out the L train “slowdown,” this opportunity might be for you. The lottery is now open for eight newly constructed, middle-income units at 150 Meserole Street in Williamsburg, just two blocks from the Montrose Avenue station. The apartments in the brand-new building are available to households earning 130 percent of the area median income and range from $1,689/month for a studio to $2,189/month for two-bedrooms.
image via Google Earth
Applications are now being accepted in the lottery for 93 newly-constructed rental apartments at Bedford Arms at 1336 Bedford Avenue, Crown Heights, Brooklyn. The new building’s 93 units are available to households earning between 40 percent and 165 percent of the area median income, ranging from $590/month one-bedrooms to $3,060/month three-bedrooms.
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The larger Compass Residences via Dattner Architects
The lottery has just launched for 328 newly-constructed Compass III residences at 1560 Boone Avenue, Crotona Park East and 101 East 173rd Street in Mount Hope, Bronx. In 2011 the West Farms Redevelopment Plan for the 17-acre, 11-block former industrial area in Crotona Park East by Dattner Architects became the largest Bronx rezoning ever passed. When complete, the complex will offer 1,325 units of affordable housing along with retail and community facilities. The new building’s 328 units are available to households earning between 30 percent and 100 percent of the area median income, ranging from $331/month studios to $1,921/month three-bedrooms.
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Hudson Crossing; via Equity Residential
A waitlist has opened for middle-income apartments at a building on Manhattan’s west side. Located at 400 West 37th Street, Hudson Crossing sits between 9th and 10th Avenues, just two blocks from the site of Hudson Yards. Qualifying New Yorkers earning 80 percent of the area median income can apply for the apartments which range from a $1,405/month studio to a $2,174/month two-bedroom apartment. According to CityRealty, available market-rate studio and two-bedroom apartments at the building are currently listed for $2,936/month and $5,215/month, respectively.
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Just three blocks north of bustling 125th Street, a brand new all-affordable building known as the Frederick has just opened the lottery for 59 of its 75 units. Ranging from $562/month studios to $2,158/month three-bedrooms, the mixed-income apartments are available to households earning 40, 50, 60, and 110 percent of the area median income. In addition to being right near local landmarks such as the Apollo and the Red Rooster, the 15-story building at 2395 Frederick Douglass Boulevard is just a block away from St. Nicholas Park and a few blocks from the A, C, B, and D trains.
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Rendering via Department of City Planning
The New York City Council voted 44-2 to approve Staten Island’s Bay Street Corridor Rezoning plan Wednesday, SILive reports. As 6sqft previously reported, the city proposed to convert the area between Tompkinsville Park and Tappan Park from manufacturing to residential while constructing 1,800 new units that would house 6,500 residents in the area. About a quarter of the new residences would be income-restricted affordable housing through the city’s Mandatory Inclusionary Housing (MIH) program. The rezoning plan has drawn opposition from some community groups and Borough President Jimmy Oddo on the grounds that it would add to the area’s traffic and transportation woes.
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