The New York City Housing Authority plans to sell air rights and open some land to private development in order to raise money for repairs. NYCHA aims to raise $3 billion through the plan, the Wall Street Journal reported. It’s part of Mayor Bill de Blasio’s $24 billion plan to help the authority upgrade its 170,000 apartments. NYCHA will need an estimated $32 billion in repairs over the next five years, the report said. Deputy […]
source https://therealdeal.com/2018/12/13/nycha-aims-to-raise-3b-by-selling-land-and-air-rights-to-developers/
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