May 4, 2017 Comments Off on New Development for NYCHA Parking Lot Views: 432 Downtown New York, New York News

New Development for NYCHA Parking Lot

May 4, 2017

City officials have begun the process of planning a new development on a parking lot on Madison St. in the La Guardia Houses, a public housing community in Lower Manhattan.

The process begins with several rounds of engagement with the residents. The new housing built on the site will be split between 50% affordable and 50% market-rate housing.

“NextGeneration Neighborhoods creates an opportunity for NYCHA to improve services by raising much needed resources to improve the quality of life for the residents,” said Shola Olatoye, chair and CEO of the New York City Housing Authority (NYCHA).

No NYCHA funds will be used to build the development, and 50% of the revenue will be reinvested back into La Guardia Houses for infrastructure repairs. The other 50% will be invested throughout NYCHA. “This means better roofs, stronger facades and badly needed bathroom and kitchen repairs,” said Olatoye.

NYCHA has previously announced NextGen Neighborhoods sites at Holmes Towers and Wyckoff Houses.

Read More at NYCHA

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