Posted inHousing

WTC Housing Activists Hail Hochul’s Heightened Goals for Affordability

Gov. Kathy Hochul announced heightened affordable housing goals Thursday for the first residential tower at the World Trade Center, cheering local advocates who have pressed for more low-rent apartments at the publicly owned site. One-third of the 1,200 units planned for a 900-foot-tall high-rise dubbed 5WTC will be set aside at rent levels below market […]

Posted inTrump Administration

State Lawmakers Slam Trump Plan to Zap Interest Cap on Loans

More than 50 state lawmakers voiced strong opposition Thursday to a Trump administration proposal that would override New York State’s 25% interest rate cap for borrowers and allow high-cost, high-fee loans — including those issued online. Banking committee chairs Sen. James Sanders Jr. (D-Queens) and Assemblymember Thomas J. Abinanti (D-Westchester) and colleagues warned that the […]

Posted inHousing

Troubled Nonprofit Gets Payout in Flip of Bed-Stuy Landmark to Upscale Developer

Sign up for “THE CITY Scoop,” our daily newsletter where we send you stories like this first thing in the morning. Luxury development wasn’t what state officials envisioned when they sold an ornate, century-old office building in Bedford-Stuyvesant to an arm of a local anti-poverty nonprofit, seeking to create jobs with “neighborhood-oriented focus.” But upscale […]