Sunday, October 5, 2014

Southbridge Tower's Vote to Leave Mitchell-Lama





Debating Privatization:
Southbridge Tower Votes

by September 17th, 2014 

Excerpt

But public discussion of the plan thus far has almost exclusively focused on the creation of new housing rather than the preservation of existing units. In a city where land for new construction is at a premium, maintaining assets already in place is crucial. According to a Community Service Society report released in January, the city lost 385,000 units of affordable housing between 2002 and 2011, far outpacing the 165,000 units that the Bloomberg administration aimed to create and preserve. If the loss of affordable homes continues at this rate, plans for new construction will fail to replace diminishing supply, let alone meet our growing city’s demand for more affordable housing. 

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