Sentences with phrase «affordable housing developers in»

New York City office managing partner and affordable housing partner Joe Lynch is quoted in this article about how the Trump administration's proposed corporate tax cuts are already affecting affordable housing developers in New York City who use tax credits to finance their projects.

This deal marks the Garment District - based investment firm's first partnership with Rose, one of the top affordable housing developers in the city.

Not exact matches

Real estate developers are under pressure in China to refurbish older properties for rental purposes to ease a supply shortage in the market for affordable housing, says Peter Churchouse of Portwood Capital.

A chance meeting with New York developer Stephen Ross led to the founding of The Related Group, which started off making affordable housing but today specializes in high - end condominiums.

In Staten Island — which is «still a pain in the ass to get to» — Douglaston is building affordable housing for seniors, and the developer is also building affordable rentals in the BronIn Staten Island — which is «still a pain in the ass to get to» — Douglaston is building affordable housing for seniors, and the developer is also building affordable rentals in the Bronin the ass to get to» — Douglaston is building affordable housing for seniors, and the developer is also building affordable rentals in the Bronin the Bronx.

A multi-family apartment owner and developer that focuses on providing professionally managed workforce housing designed to enable middle - market renters to enjoy the benefits of living in Boston at affordable rents.

The federal government was the main source of subsidy in the «60s and «70s, offering for - profit developers below - market interest rates and tax incentives to build and maintain affordable housing.

New York City has a rental control system designed to prevent the wealthy from exploiting the poor (with mixed results) and many other places in the U.S. have affordable housing system that creates some stock of affordable priced, price controlled housing at the expense of developer who want to sell market priced housing.

Two real estate developers hired the law firm to represent them in tax challenge cases in return for Silver allegedly backing the renewal of state tax incentives for developers of large housing projects that include affordable units, according to federal charges.

Meanwhile at the New York State Association for Affordable Housing's conference, de Blasio called on affordable housing developers to pressure Albany to pass a reformed 421a before the legislative session endAffordable Housing's conference, de Blasio called on affordable housing developers to pressure Albany to pass a reformed 421a before the legislative session ends iHousing's conference, de Blasio called on affordable housing developers to pressure Albany to pass a reformed 421a before the legislative session endaffordable housing developers to pressure Albany to pass a reformed 421a before the legislative session ends ihousing developers to pressure Albany to pass a reformed 421a before the legislative session ends in June.

The project was the first proposed by a private developer under mandatory inclusionary housing, a de Blasio administration policy that forces developers to include affordable housing in any project that needs zoning approval.

Hevesi says the homeless projects are caught up in a larger dispute over how to renew a special tax break for real estate developers who include affordable housing in their projects, known as 421a.

On the developer side, REBNY president John Banks III said in a statement that the group «remain [s] committed to working with stakeholders» to establish an affordable housing program but that a prevailing wage requirement was untenable.

Currently it mandates developers who build in rezoned areas of the city pick from one of three options for affordable housing: 25 percent of their units rented to those making, on average, 60 percent of the Area Median Income, 30 percent at 80 percent of the AMI or 30 percent at 120 percent.

About Liberty Affordable Housing Liberty Affordable Housing Inc. (Liberty) is a not - for - profit developer headquartered in Rome, New York.

Mr. de Blasio, in pursuit of his goal to build or preserve 200,000 units of affordable housing in a decade, wanted Albany to renew the tax credit but require all developers getting it to build affordable housing, no matter where their development was, and also wanted the program to include a mansion tax on sales of residences worth $ 1.75 million or more.

The Sherman Plaza developers, Washington Square Partners and Acadia Realty Trust, need approval from the Council for the spot rezoning to include more affordable housing in the project, which would be the first in the city to be built under Mayor Bill de Blasio's Mandatory Inclusionary Housing (MIH) rezoninhousing in the project, which would be the first in the city to be built under Mayor Bill de Blasio's Mandatory Inclusionary Housing (MIH) rezoninHousing (MIH) rezoning plan.

In her testimony before the Council, Ms. Glen noted that the 421a credit — a frequent target for liberals — is available for most projects across the city, but developers are only required to include any affordable housing in their buildings in the so - called «geographical exclusion area» covering just 16.5 percent of the citIn her testimony before the Council, Ms. Glen noted that the 421a credit — a frequent target for liberals — is available for most projects across the city, but developers are only required to include any affordable housing in their buildings in the so - called «geographical exclusion area» covering just 16.5 percent of the citin their buildings in the so - called «geographical exclusion area» covering just 16.5 percent of the citin the so - called «geographical exclusion area» covering just 16.5 percent of the city.

«We also must tell Albany that they have got to stop the hemorrhaging of affordable housing units in New York State and we have to cut off the spigot of those who just go to Albany and serve the developer unit and then come back home and talk about the crisis that's been going on,» she said.

Meanwhile, the new 421 - a program, which gives a tax break to developers in exchange for affordable housing, no longer helps residents of the community where the project is built.

A bill to repeal the vacancy allowance has languished in the State Assembly for years, but some see an opening to inject the issue into negotiations over the renewal of a tax exemption for developers who build affordable housing.

I'll establish Homes for Londoners, a new in - house developer at City Hall, led by me, working with councils and private developers to lever in funding and get thousands of new affordable and market homes built on spare public land and brownfield.

The former Teamster was an ally of ex-Mayor Michael Bloomberg, and found a surprising opponent in Mr. de Blasio — a friend of the minority - dominated service sector and public employee unions — who said he believed building the most affordable housing possible was more important than making sure developers paid union wages.

A plan to revive a lucrative property tax break, whose expiration has sparked a long battle among developers, construction unions, affordable housing activists and politicians, will be included in Gov. Andrew Cuomo's budget this week, according to three sources familiar with the arrangement.

«If Albany will not give us the changes we need, if Albany will not strengthen rent regulations, if Albany will not pass a mansion tax, if Albany will not protect us, then here's what I think about any tax breaks for condominiums, luxury condominiums, any tax breaks for developers who are not going to create affordable housing — I say end those tax breaks once and for all,» he told congregants at First Corinthian Baptist Church in Manhattan, according to a recording provided by a spokesman.

In a statement, the de Blasio campaign said, «Bill de Blasio has put forward the most comprehensive affordable housing plan of any candidate for Mayor — one that will create or preserve 200,000 units of affordable housing and require developers to build more permanent affordable units.

But the biggest change to the project was a requirement that the developer shift 30 percent of its proposed $ 17 million donation to the High Line Improvement Fund — roughly $ 5.1 million — to affordable housing projects in the neighborhood.

He's reduced taxes and debt twice, continued to make water quality a signature issue, and addressed his long - standing concerns over the lack of affordable housing on the East End by working with developer Georgica Green Ventures and community members to gain town board approval for a 38 - unit workforce housing project in Speonk.

Developers Washington Square Partners and Acadia, who own the Sherman Plaza site and had sought the increased height limits in exchange for a plan to include affordable housing in its development, said they were saddened to hear of the vote.

The developers had sought a 23 - story height cap, in exchange for 50 percent affordable housing, but settled on up to 17 stories maximum in which it would develop 175 affordable apartments.

For more than a year, the 421a abatement that saves developers big in taxes and creates some affordable housing has been unavailable for new development projects, following a sunset of the previous law in January of 2016.

Their most recent debate is about the 421 - a program, which provides tax abatements to developers in exchange for building affordable housing.

As one of the largest faith - based developers of affordable housing in the country, Catholic Charities provides 2,900 units of housing for low - income seniors, families, and the formerly homeless and formerly homeless veterans throughout Brooklyn and Queens.

Reyna, an advocate for affordable housing, recently pushed an agreement with Rheingold Brewery developer Read Property Group to include «permanently affordable» housing units in the Bushwick building.

421a, a tax incentive first passed by the New York State Assembly in the 1970s, provided developers with significant tax breaks to construct new residential buildings, often without providing any affordable housing.

It remains to be seen how these new goals will play out, in conjunction with the newly rebooted 421a (dubbed Affordable New York), which gives developers a 35 - year break from taxes, as well as the mayor's Mandatory Inclusionary Housing program.

The following month, Phipps Houses, one of the city's premiere affordable housing developers, withdrew its rezoning application to build a 209 - unit apartment building in Sunnyside, Queens, retreating after it became clear that local Council member Jimmy Van Bramer could not be convinced to support the project.

Currently, the 421 - a program requires developers to set aside 20 percent of their projects as affordable housing — but only in certain parts of the city.

Lewis, who has complained that de Blasio has been too cozy with developers in drafting plans for affordable housing, calls him «the gentrifier in chief.»

Despite deep resistance from the neighborhood and elected officials, the de Blasio administration has thrown its support behind the developer's rezoning plan in hopes of bringing more affordable housing to the city, a key part of the mayor's agenda.

The program also played into what de Blasio considers his biggest success yet in forcing developers to include affordable housing; the 1,723 - unit Astoria Cove project along the Queens waterfront, where 27 percent of the units are to be available at below market - rate rents.

The developers behind the Bronx Commons, a 305 - unit affordable - housing project slated for the South Bronx, have a different idea in mind: They are adding a concert hall to the mix.

«Instead of reaching out to union leaders to gain consensus on an affordable housing program that ensures middle - class wages for workers, (de Blasio) coordinated with a lobbying group — led by billionaire developers — to run an anti-union campaign that would lead to unsafe job sites and a low - wage workforce,» The Greater New York Laborers - Employers Cooperation and Education Trust and the New York City and Vicinity Carpenters Labor Management Corporation said in a joint statement.

New York developer Jonathan Rose Cos. is set to purchase a $ 500 million portfolio of affordable - housing properties from Forest City Realty Trust, in a transaction that will double the size of Jonathan Rose's portfolio and help turn it into a more significant player in the industry.

Developers, bankers and de Blasio administration officials said they were told in meetings with aides to Cuomo the city would lose a sizable share of up to $ 900 million a year that the state provides in federal tax - exempt bonds for affordable housing projects in the five boroughs.

Proposed changes to a property - tax break called 421 - a — most notably a requirement that all developers include affordable housing in new projects receiving the benefit — would not stifle construction activity in New York City, according to a study released today.

New York City is moving to have developers build at four sites, creating 10,000 units of affordable housing in the next decade.

Developers of these buildings will also be required to set aside between 25 and 30 percent of units as affordable housing, in accordance with suspended legislation that's been held up in Albany.

Less drastic, but more surprising, are conditions in an apartment building on E. 162 St. that led to a tenant protest against one of the city's biggest developers and managers of affordable housing.

Bottom line, thanks to de Blasio's persistence: For the first time since 421 - a launched in the 1970s, developers must include affordable housing in their projects in order to claim the tax relief, wherever in the city a project is located.