The Mayor is upzoning NYC out of existence. His latest target is Soho/Noho, and both City Hall and its allied real estate developers dissemble shamelessly.
Andrew Berman wrote for City Limits.com his analysis of “Affordable Housing as Trojan Horse in Soho and Noho.”
“Dishonestly, they gloss over neighbors’ true objections to the plan’s overscaled towers of largely luxury housing, claiming opponents are resisting affordabele housing rather than new construction of a neighborhood-shattering scale.”
Berman identifies “the false dichotomy promulgated by real estate interests and the de Blasio administration that the only way to get new affordable housing in New York City is to grant massive bonuses to luxury and market-rate housing developers.These bonuses vastly increase the developers’ profits and the size of their new buildings, but require only a small payback of affordable housing in return.”