News Editorials Blogs ARTS+ Features Mobile Site Mailing List

Recent Editorials

The Glory of Vietnam

The Iran Appeasement

The Ron Paul Warning

The Church Goes To Court

Al-Megrahi in Hell

As Centenary of Federal Reserve Approaches, Promises on Gold Echo From an Earlier Congress

Reader comment on:
Manhattan Housing Cycle Turns Toward Rentals
in response to reader comment: Just another reason rents are high

Submitted by Jabari Henderson-Brown, Dec 4, 2006 12:13

The government does not always require that 20% of new rental units are controlled. However, if a developer wants zoning changes, he has to go through the community board, which often requires some form of affordable housing. You also forget taht developers get subsidies for affordable housing. That HFA financing is at a very low interest rate, which at least partially offsets the difference in rental rates. If no developer were to build affordable housing, where do you think people who make $40K a year should live? Do you think that only a handful of people in the city make under 50% of AMI?

Note: Comments are screened, and in some cases edited, before posting. We reserve the right to reject anything we find objectionable.

Other reader comments on this article

Comment By Date

It's sad that the government requires that 20% of new rental units are at controlled-rents. This means that the developer... [MORE]

Jason Pappas

Dec 1, 2006 08:03

The government does not always require that 20% of new rental units are controlled. However, if a developer wants zoning...

Jabari Henderson-Brown

Dec 4, 2006 12:13

I'm aware that the means of saddling developers with "below market rent apartments" takes the form of a zoning restriction... [MORE]

Jason Pappas

Dec 4, 2006 13:32

There is certainly a problem with the housing supply, but there is also increasing demand. People are coming to NYC... [MORE]

Jabari Henderson-Brown

Dec 4, 2006 15:38

The high price isn't labor, land, or demand; it's regulation. If the height of buildings is restricted, as you believe... [MORE]

Jason Pappas

Dec 4, 2006 16:47

Actually, a number of third world cities have very little in the way of regulation of housing stock. They also... [MORE]

Justin

Feb 2, 2007 16:14

Comment on Manhattan Housing Cycle Turns Toward Rentals

Name
Email Address
Title of Comments
Comments:

Note: Comments are screened, and in some cases edited, before posting. The New York Sun reserves the right to reject anything found to be objectionable.

Would You Like to Become a Sustaining Subscriber of the Sun? Sign up now

* Inquire about the Sun Seminars

Sustaining Subscriber Login

Follow The New York Sun

Facebook    Twitter    RSS    Join Mailing List

Buy China Wholesale Products on DHgate.com

For Vegas Show tickets, shop ShowTickets.com

Made-in-China.com

Planning an Orlando Vacation? Visit Best of Orlando!

© 2002-2012 TWO SL LLC, New York, NY. All rights reserved.
Use of this site signifies your agreement to the Terms of Service and Privacy Policy.