The Adams Administration has announced that it is partnering with a construction union and a real estate firm in an effort to raise over $400 million that will go towards building affordable housing for the working class. Calling himself “the blue-collar mayor of America’s biggest union town,” Adams claims the housing will be “affordable for the New Yorkers who have built our city and [will] help New York City lead on the affordable housing crisis.” However, like almost all of the so-called “affordable” living units in New York City, they are only affordable for some. These will be affordable to households making 80 to 140% of area median income, meaning $101,680 to $177,940 for a family of three.
Read the full story by Richard Khavkine for The Chief-Leader, published March 12, 2024, here: https://www.thechiefleader.com/stories/city-labor-private-firm-will-partner-on-working-class-housing,52080
