Closing the Door: Subsidized housing at a time of federal instability
Summary: Between 1990 and 2017, New York City had lost just over one third of its 119,000 apartments in the Mitchell-Lama rental and Project-based Section 8 programs. While the loss of Mitchell-Lama rentals and HUD-assisted units has slowed compared to the 2005-2006 peak, a few developments continue to lose their subsidies each year. Further, there are a new, looming threats. Major losses may be in store for low income housing tax credit (LIHTC) supported developments, which make up over half of subsidized apartments in NYC. Under the current political climate, the responsibility for supporting and expanding subsidized housing in New York City increasingly falls on the city and state. Beyond immediate preservation needs, the deeply entrenched affordability crisis requires bold, pro-tenant policy solutions.
Issues: Affordable Housing