PUBLIC TESTIMONY
Testimony by Thomas Lopez-Pierre, President/CEO of Black Real Estate Forum LLC, on City of Yes for Housing Opportunity Plan
6:06:32
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111 sec
Thomas Lopez-Pierre, representing the Black Real Estate Forum LLC, testified in support of Mayor Eric Adams' City of Yes for Housing Opportunity Plan. He emphasized the current housing crisis in New York City and argued that building more housing is crucial to addressing this issue.
- Lopez-Pierre highlighted severe rent burden affecting 34% of city tenants and a low 1.4% vacancy rate for rentals.
- He supported zoning reforms that would allow for small apartment buildings near public transit and accessory dwelling units.
- As a black-owned social impact real estate fund manager, he expressed commitment to building wealth and creating jobs for black people.
Thomas Lopez-Pierre
6:06:32
Good afternoon, Chairman.
Kevin C. Riley
6:06:33
Mr.
6:06:33
Lopez.
6:06:34
Mr.
6:06:34
Michael, please.
Thomas Lopez-Pierre
6:06:37
There we go.
6:06:38
Good afternoon, Chairman, Kevin Riley and members of the sub committee on zoning and franchises of the City Council of New York City.
6:06:44
Thank you for the opportunity to testify in support of mayor Eric Adams City of Yes for Housing Opportunity Plan.
6:06:50
My name is Thomas Lopez Pierre.
6:06:52
I was born in New York City.
6:06:54
I live on the Upper West Side of Manhattan.
6:06:57
I serve as the president, CEO of the Black Real Estate Forum, LLC, and the fund manager of BRF Fund, number 1, LLC, a black owned social impact, private equity real estate fund.
6:07:08
I work with accredited black investors that include medical doctors, lawyers, and investment bankers that are committed to building wealth and creating jobs for black people.
6:07:17
We currently own a 2 family property in the Beatrice's sections of Bronx located in the Council District of Chairman Kevin Wiley.
6:07:25
We love tenants with housing vouchers.
6:07:28
Learn more about us at blackrealestateform.com.
6:07:31
We are in a housing crisis.
6:07:33
In 2023, The Community Service Society of New York reported that a staggering 34% of the city's tenants were classified as severely rent burden spending at least half their income on monthly rent.
6:07:45
In 2023, 1.4% of the apartments were empty and available to rent last year according to the city's most recent housing survey.
6:07:53
I strongly believe that building more housing is one of the best ways to help end this housing crisis.
6:08:00
For instance, zoning reforms within city of yes would permit the development of small three to five story apartment buildings on 5000 plus square foot lots near public transit and allow accessory dwelling units to be built, like backyard cottages and basement apartments.
6:08:16
I urged the city council to pass mayor Eric Adams, city of yes, for housing opportunity plan.
6:08:22
Thank you.
