Mortgage

Affordable housing “Poor Door” creates inequality issue in NYC

Residents enter through a separate door

Manhattan approved plans for a luxury condominium with a separate door for low-income residents. The 33-story complex will have 219 expensive condos for sale and 55 to rent cheap to low-income tenants, according to an article in CNBC.

And as you can expect, residents of New York City are not reacting kindly to it (see below tweet).

The article explained that the plans are part of the city’s Inclusionary Housing Program, enacted in 2009 under former New York City Mayor Michael Bloomberg. The program gives developers tax breaks and more space in exchange for building affordable housing either in the building itself or close by.

"It's treating low- and moderate-income tenants like second-class citizens. It's de facto segregation," said Public Advocate Leitia James, who has filed a human rights complaint against developers who try to limit access to building amenities.

Mayor Bill de Blasio's office said while it's too late to do anything about 40 Riverside, since six stories were already built by the time he walked into City Hall, his administration is committed to changing the zoning code.

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