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New York City Housing

All articles tagged with #new york city housing

economy8 days ago•12 min saved

Mamdani’s NYC housing plan tests three bold moves to lower costs

Mayor Zohran Mamdani’s “Block by Block” plan aims to slash NYC housing costs by boosting supply—targeting 200,000 new homes in 10 years with $2.5 billion in funding—through converting unused offices and hotels, building on public sites like Sunnyside Yards for a new complete neighborhood (requiring federal support), lowering insurance costs for affordable and rent-stabilized units, expanding ADUs and piloting basement apartments, and expanding tenant protections and downpayment/mortgage assistance for low-income buyers; success will depend on legislation and funding from local, state, and federal levels.

via Business Insider|

#adus #affordable-housing #block-by-block

economy3 months ago•15 min saved

Brooklyn Florist Navigates NYC Costs on $23,000 a Year

Molly Culver, owner of Molly Oliver Flowers in Brooklyn, keeps her floral business afloat by reinvesting earnings and drawing a tight salary of about $23,000 while dipping into savings. She lives in a $600-per-month room in Ditmas Park with roommates, spends part of the year in her mother’s Connecticut home to save on rent, drives a used Prius, and groceries around $100 a week. She recently opened a new floral studio with a $2,800 monthly rent share and aspires to make $75,000 a year, illustrating how New Yorkers balance passion and cost in one of the world’s most expensive cities.

via The New York Times|

#affordability #ditmas-park #economy