QUESTION
How can the 230,000 offline housing units in NYC be activated?
0:55:44
·
82 sec
Efforts to activate the 230,000 offline housing units in New York City are addressed, highlighting the complexity of the issue due to various reasons units remain off the market.
- A variety of reasons exist for why housing units are offline, including logistical issues such as signed leases without occupancy and units in the process of being sold.
- Many of the challenges leading to units being offline are not directly solvable by housing preservation strategies.
- The discussion underscores the urgency to find affordable housing solutions amidst rising gentrification pressures.
Lincoln Restler
0:55:44
I'm just interested in what tools we have to get these 230,000 units that are offline activated because that's an enormous amount of housing that is unavailable.
0:55:55
I it's a low vacancy rate.
0:55:56
I get that we're moving in the right direction and that there's progress to show over these 2 years.
0:56:00
But other than as my colleague and I were just discussing kind of ever heightened hyper gentrification across the city of New York that is tightening the housing market and making it more and more impossible for anybody to find an affordable place to live.
0:56:12
Are there any and that incentivizing landlords to see their units activated?
0:56:16
Is there anything else we can do?
0:56:19
And or are there specific deliberate policies that we're pursuing to try to activate these units, which I imagine is any is a lot cheaper than preservation deals or new construction, if we can do the work that's necessary to get this housing online.
Elyzabeth Gaumer
0:56:34
So I I will obviously defer to our 1st deputy commissioner on some of those that thinking, but just so that I can clarify for others that within that overall universe of units that are off the market, there are variety of different reasons that happens.
0:56:47
Right?
0:56:47
And just for clarity, I want to make it clear that many of those reasons are not something that we would solve for as an prevention.
0:56:54
Right?
0:56:55
Things where a lease has been signed, but someone hasn't moved in.
Ahmed Tigan
0:56:58
Sure.
Elyzabeth Gaumer
0:56:58
Or a unit has been sold.
0:57:00
It's in contract.
0:57:01
Mortgage hasn't come through.
0:57:02
It hasn't been closed on, right, where the occupant can can take up right now.