NYU Furman Center launches database of subsidized rental housing
An interactive database to track rental housing in New York City created by the NYU Furman Center for Real Estate and Urban Policy is now available. The university created the Subsidized Housing Information Project database to track 235,000 properties listed as private, subsidized rental units. "The launch of this critical new tool demonstrates the extraordinary commitment of all the involved agencies to affordable housing preservation," said Vicki Been, faculty director of the Furman Center. The database "will arm policy makers with the information they need to create effective and fair preservation policies to protect the more than 171,000 low- and moderate- income New York City households that rely on these subsidy programs for quality, affordable housing." The database is the result of a partnership formed by the New York City Department of Housing Preservation and Development, the New York Housing Development Corp., HUD, and the New York State Homes and Community Renewal program. It also tracks units that could expire out of regulatory agreements for subsidized housing soon. The program identified 227 rental properties at-risk of having subsidized housing contracts expire by 2015. "While many, if not most, property owners are unlikely to opt out of their subsidy programs, 34 properties containing more than 10,300 units are in non-renewable programs, indicating that new subsidies will likely be required in order to maintain affordability," the Furman Center said in a press release. Write to: Kerri Panchuk.