June 21, 2019 – Weekly News Roundup

June 21st, 2019

The Empty Storefront Crisis and the End of the American Dream - The New York Times

NYCHA scraps east side tower plan in face of boro prez lawsuit - The City

"Their [Housing officials] goal is to allow more market-rate apartments on the site in an effort to raise more money for the cash-strapped Housing Authority. [...] Now, [NYC Housing Authority Chair Kathryn] Garcia says, the new plan will have closer to 70% market-rate apartments and 30% subsidized apartments. The complex would still get money for repairs — hopefully, a lot more than $25 million, she said — and all of the cash raised would go only to the Holmes Towers."

ODA Architecture’s 310 East 86th Street Revealed 

"As YIMBY previously reported in March, initial plans called for an 80,000-square-foot structure, but were dramatically increased to nearly 145,000 square feet. Comprised of five neighboring parcels, the development will top off at 21 stories and is expected to yield 68 units."

Inside New York's Landmark Deal to Protect Renters 
- CityLab

“'The idea that capital investments, major repairs, or upgradings may not be cause for a rent increase is probably the most significant departure in the bill, and the most risky one,' [Howard Husock, vice president for research and publications at the conservative-leaning Manhattan Institute] says."

Real Estate Groups to File Lawsuit If Rent Reform Passes - Commercial Observer

Rent Laws’ Impact: Tenant Paradise or Return of the ‘Bronx Is Burning’? 
- The New York Times

"Supporters of the new rent protections said the curbs on rent increases in the law were a necessary brake on a real estate market that was steamrollering renters. [...] But some in the real estate industry said they were deeply concerned that the new rules would make it more difficult for landlords to afford to renovate aging residential buildings...."

Art Gallery Buys UES Townhouse For $22.3M, Plans New Headquarters - Patch

Caps on IAIs and MCIs could spell disaster for landlords, lenders and workers: real estate pros - The Real Deal

City Council cancels public hearing on bills to reform rental fees at eleventh hour - The Real Deal

"The legislation is meant to address affordability concerns facing New Yorkers, Council member Keith Powers, the prime sponsor of Intro 1423, has previously said. His office did not respond to a request for comment. At the moment, renters often pay the landlord’s entire broker fee, often in addition to the first month’s rent and a security deposit, which are commonly 1.5 to two times the monthly rent. "

How New York’s Skyline Is Changing to Give the Wealthy a Better View - The New York Times

Analysis: Here’s what the new rent law will do to the average stabilized apartment - The Real Deal

Central Park's Belvedere Castle Reopening After Restoration - Gothamist

E-Bikes And E-Scooters Head Toward Full Legalization, With A Manhattan-Sized Exemption - Gothamist

NYC’s largest gay pride flag unveiled on Roosevelt Island - New York Post

Meet NYCHA’s New Boss: A Fan Of Private Management Of Public Housing - The City

"Gregory Russ, head of the much smaller Minneapolis system and a major champion of turning over public housing management to private developers [...] currently oversees 6,259 public housing units with 10,500 residents, plus another 15,500 tenants in private apartments receiving taxpayer-subsidized housing vouchers known as Section 8. That’s a tiny fraction of NYCHA, the biggest public housing operation in the nation...."

$2.1 million renovation for Stanley M. Isaacs Center - Our Town

"A facility that serves more than 6,000 children and low-income families, out-of-school and out-of-work youth and older adults annually on the UES recently received a $2.1 million facelift. On June 3, the Stanley M. Isaacs Neighborhood Center at 415 East 93rd Street unveiled its new senior kitchen, youth center and restrooms. The center, which has existed for more than 50 years, provides food and security to hundreds of seniors daily through on-site hot meals and home-delivered meals to the homebound and medically fragile."

No Cars Allowed: Community Boards Get New Funding Boost, With Warning - The City

Naumburg 2019: A classical summer - Our Town

"This year, as the Naumburg Bandshell undergoes repairs, the summer concert series will be held in Temple Emanu-El. [...] All the concerts are free, but all require tickets, available online [naumburgconcerts.org/concerts/]. If there are seats still available, it might be possible to score a last-minute ticket at the door."


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