Monday, March 23, 2015

Lakeview Mitchell-Lama struggling to stay affordable

City and State has a terrific article on Mitchell-Lamas - focusing on the Lakeview development on 5th Avenue near East Harlem.  

IN RISING MARKET, VITAL MITCHELL-LAMA PROGRAM AT CROSSROADS


Excerpt: "[Th]e city must prepare for the return of the market conditions that caused the last wave of Mitchell-Lama losses by creating and funding incentives for owners to maintain their commitment to affordability,” as well as help with repairs in buildings remaining in the program, Waters and Bach wrote in the [Community Service Society] report."

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