New York City has the largest public housing program in the nation with more
than 181,581 apartments in 345 developments with 417,328 residents. With the
New York City Housing Authority — the body that administers these developments
— running a $200 million budget shortfall because of federal government
cutbacks, a top federal housing official said that NYCHA should
consider selling some of its residential apartment buildings in expensive
neighborhoods, according to the New York Daily News.
There is a development in Manhattan's trendy yet expensive Chelsea neighborhood, where a one-bedroom apartment could easily fetch over $1 million a unit, as well as another project NYCHA might want to consider selling in the East Village. — Gerald Magpily
See
story from the Daily News
Continue reading below
