investigation
Adams Administration Launches 24/24 Initiative
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The initiative’s call is appealing: 24 out of 24, referring to the purpose of creating or preserving (it’s still transparent how many of each) 24 housing projects on city-owned land through 2024. The effort is expected to total more than 12,000 units.
This week, the Adams administration announced that it plans to consider a mid-year request for proposals for a parking lot at 4095 Ninth Avenue in Inwood. The city is receiving proposals from developers to build 570 affordable housing complexes on the site.
It is worth noting that a 100 percent affordable project on a vacant lot or parking lot is not always a slam dunk in NYC. Consider another city-owned site at 388 Hudson Street, where the city wants to build 100 affordable units. That project has faced some pushback for its proposed height.
Hochul’s leadership is doing the same: The governor has announced a plan to build up to 15,000 housing complexes on state-owned land, with a budget of $500 million over the next two fiscal years. To date, those projects include:
The state has also issued bids for the former Bayview Correctional Center in Chelsea, the former Downstate Correctional Center in Fishkill and a vacant asset known as “Site K” near the Javits Center.
Both projects would meet a small fraction of the city and state’s housing needs. The mayor has set a goal of building 500,000 housing complexes in the city over the next decade, and Hochul has a goal of building 800,000 statewide.
What we’re thinking: What will Worldwide Plaza have? Send a note to kathryn@therealdeal. com.
A thing we’ve learned: Both boards of the Community Housing Improvement Program and the Rent Stabilization Association have signed off on the merger of the two groups. The marriage next goes to the groups’ members for a vote and then to the state attorney general for approval.
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Elsewhere in New York. . .
— The City Council on Tuesday voted to override Mayor Eric Adams’ vetoes of the How Many Stops Act and a measure that limits solitary confinement, Gothamist reports. This marked the second and third time the body has voted to override an Adams veto, following its vote to uphold its expansion of city housing vouchers.
— Gov. Kathy Hochul signed the “Rape is Rape Act,” which expands the definition of rape under state criminal law, City & State reports. “Today we’re bringing the language of the law in line with what survivors have been forced to endure,” Hochul said. “We’re reassuring survivors: when they walk into a police station or approach the witness stand, the full weight of the law in the state of New York is behind them.”
— The Justice Department will pay more than $10 million to law enforcement in Rockland, Westchester and Orange counties, the Times-Union reports. The payments are tied to local police departments that assist in federal investigations of drug crimes.
Residential: Last Tuesday the maximum residential price was $72. 5 million for a home at 138-140 West 11th Street in Greenwich Village.
Commercial: The most expensive ad of the day was $15 million for a six-story, seven-unit building at 241 West Broadway in Tribeca.
New on the market: The most expensive apartment on the market Tuesday, a condo at 157 West 57th Street in Midtown, for $25 million. Corcoran Group has the list.
Grand Opening: The Largest New Structure Case of the Day for a 400-square-foot two-car garage at 456 Underhill Avenue in the Bronx. Mar Architecture