Squeezed NYC affordable housing properties face reckoning

New York City’s regulated affordable housing sector is confronting a worsening financial squeeze, and a reckoning is coming unless solutions emerge, according to a new survey of owners, managers, lenders and other industry participants. The survey by affordable housing nonprofit NYC Housing Partnership found that 62% of respondents said operating costs have risen to unsustainable […]

NYC buildings agency inspects 180 sites, no imminent hazards

Last month’s structural near-disaster at the former Pfizer headquarters being converted to apartments set off a sweeping inspection of construction sites across New York City. Inspectors checked at 180 sites in all, according to the Department of Buildings. Inspectors found violations, but “we did not find any hazardous structural issues posing an imminent danger to […]