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Q&A
Impact of additional funds on vacant apartments and turnover rates
3:10:07
·
96 sec
Council Member Chris Banks inquires about the impact of additional funds on vacant apartments and turnover rates. NYCHA's Chief Operating Officer, Eva Trimble, explains the challenges and expectations regarding vacant unit reduction.
- Additional resources are expected to help turn over more units, but exact numbers are not yet determined
- About 60% of vacant units go to transfers, making it difficult to significantly reduce the total number of vacant units
- Current number of vacant units is around 5,900, despite a 52% increase in apartment turnover in the past year
Chris Banks
3:10:07
Ken, you talk a little bit about how you think these additional funds will impact the number of vacant apartments and will this funding reduce the total number allowed to turn over to apartments quicker than what's currently being done?
Lisa Bova-Hiatt
3:10:26
Thank you for that question.
3:10:27
I'm going to turn it over to Eva Trimble, our Chief Operating Officer.
Eva Trimble
3:10:32
Thank you councilmember.
3:10:33
As we've stated, we still have some work to do with our state partners to finalize an agreement for how those funds will be used.
3:10:41
But yes, we are very grateful and excited to have additional resources to supplement our vacant unit work.
3:10:48
We are expecting that this will help us turn over additional units, but I can't say exactly how many just yet as we need to work with the state to determine how those funds are being applied to our existing program.
3:11:01
However, as I've stated before, it's very hard for us to make a deep indent into the total number of vacant units available as about 60% of our vacant units go to transfers.
3:11:16
So for every time we move someone, another apartment becomes vacant.
3:11:20
Our current number of vacant units available is about 5,900, and we've been pretty steady around that number now for a little while despite the fact that we've turned over 52% more apartments in the past year and have increased our production significantly.
3:11:38
And we're continue to use all the resources we can to continue to improve that number.