Prime NYCHA land for sale....

whynot_31 · June 2013

http://online.wsj.com/article/SB10001424127887324634304578539691701408574.html?mod=WSJ_NY_LEFTTopStories

This trend is not new, but it is certainly accelerating as a result of declining federal support for NYCHA.

Unless the new mayor and adminstration can find some OTHER source of funding besides selling land, this seems a certainty.

P.S. The land isn't for sale, it is actually a 99 year lease.

pragmaticguy · June 2013

Makes me wonder what neighborhoods would be wanted by the developers. On Prospect Place and Ralph there's three buildings waiting to be torn down. I think they're about 20 stories each. They were former housing buildings but were replaced by low rise housing because the crime was rampant there. So, I'm sure the city could rent out those lots with no objection but I doubt there'd be many takers. I'm guessing the developers would want to build in "better" areas where they could get higher rents.

whynot_31 · June 2013

Yup.

There are lots of NYCHA developments, some of which are in Manhattan or the rapidly gentrifying parts of the city.

http://gis.nyc.gov/nycha/im/wmp.do;jsessionid=310EE8A98D1C23A58CC4DC37083DAC43?

The ones with land that is devoted to parking lots or open space are the most ripe for development.

whynot_31 · November 2013

It has taken a while, but the tenants are starting to clearly state that they are opposed to the plan:

I think it took so long because many tenants did not understand the larger ramifications of the sales, and/or were not among the groups that use the playgrounds or parking lots.

NYCHA is in a very difficult financial position if it does not sell this land. The tenants don't own the land (NYCHA does), so I think the tenants are going to lose.

Prime NYCHA land for sale....

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