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DAILY NEWS --EXCLUSIVE: Study finds that landmarking historical neighborhoods could limit cheap housing
July 1, 2014
The Real Estate Board of New York found that a fraction of the 35,000 affordable housing units built citywide from 2003 to 2012 were within landmarked districts. As a result, landmarks could make it tougher for Mayor de Blasio to achieve his goal of adding more cheaper apartments.
Landmarking historic neighborhoods could make it more difficult for Mayor de Blasio to fulfill his ambitious affordable housing goals, a new study by the real estate industry found.
Of 35,000 affordable housing units built citywide between 2003 and 2012, only 100 were within landmarked districts, according to the Real Estate Board of New York study.
And all but five of the affordable units constructed in landmarked districts were part of one heavily subsidized project in the Bronx.
The REBNY report says landmarking can create “unforeseen barriers” on development.