De Blasio considers boosting market-rate development on unused NYCHA land
Politico New York
In a report released July 3, the Citizens Budget Commission said the de Blasio administration has made “limited progress” in turning over valuable land for revenue.
Of the 21 developments planned, just one is complete and five are under construction, according to figures provided by the housing authority.
“NYCHA can take advantage of the underutilized land by allowing housing construction on the properties, commonly referred to as infill development, or by transferring development rights to adjacent property owners through the sale of air rights,” the commission wrote. “To date NYCHA has not sold any air rights, and its execution of planned infill development has been slow.”
The initial plan was slated to generate between $300 million and $600 million over 10 years. The report said current plans would only yield $62 million.