May 5, 2014

Inequality in the City: New York’s Housing Strategy

As senior governments become increasingly unlikely, unable or oblivious to issues of inequality, local governments are taking up the challenge.   For example: Seattle’s move to a $15 minimum wage, described here.

And today, New York Mayor Bill de Blasio’s announcement of his housing strategy:

Mayor Bill de Blasio took to Brooklyn and the Bronx on Monday to outline an ambitious housing plan that envisions adding density to New York City by encouraging the construction of more residential buildings while ensuring that they include affordable homes for poor and middle-income residents.

Mr. de Blasio said the city would commit $8.2 billion of public money to creating and maintaining affordable units and would work to secure more than $30 billion in private funds. Along with anticipated state and federal money, the projected investment in affordable housing in the city would total $41.1 billion over 10 years, which administration officials said was the largest such effort by a city in the United States.

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