The plan involves leasing building sites, owned by NYCHA, to developers who would then build the affordable housing units on the sites. This would generate cash flow to NYCHA to fund capital projects and also create thousands of jobs while also increasing low-income housing options for New York City residents.
The sites being considered currently have no housing. As a result, no existing residents would be affected or need to be relocated. The building that would take place on the sites would represent new housing for more low-income residents. The income generated through site leases would also mean millions of dollars in additional funding that would enable NYCHA to continue to build affordable housing to New Yorkers who need safe and secure homes.
The New York City Housing Authority plans to announce exact sites and more information on development planned for the sites in early 2013.
For more information, visit www.nyc.gov/html/nycha//html/developments/dev_guide.shtml
