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Q&A
Council member questions changes in affordability plan
0:32:40
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119 sec
Council Member Yusef Salaam inquires about changes in the affordability plan for the One45 for Harlem development. Developer Bruce Teitelbaum explains the current plan and efforts to increase affordability.
- Original plan included 291 affordable units out of 968 total
- Discussions about an enhanced affordability proposal to increase to 591 affordable units
- Teitelbaum commits to continuing efforts to enhance affordability, but cites need for government subsidy
Yusef Salaam
0:32:40
Thank you.
0:32:44
I have a few questions.
0:32:52
As chair Riley noted regarding the affordability, this presentation before us is very different than the one provided to Community Board ten at multiple public hearings.
0:33:02
In those sessions, an enhanced affordability proposal was presented to increase the number of affordable units from two ninety one to five ninety one.
0:33:12
That plan included a non for profit partner, Concern Housing, who would manage 100% affordable who would manage a 100% affordable building while the second building would be subject to MIH.
0:33:24
Can you please explain the stock change?
Bruce Teitelbaum
0:33:27
So the plan that we proposed, we drafted and worked on a couple of years ago and it's gone through the process.
0:33:37
It it it was mapped as MIH two.
0:33:40
That's the plan that's before us today.
0:33:42
But councilman, as you know, we've had discussions about trying to increase the affordability.
0:33:47
So the notion that we had, and we talked about this and we've spoken to many people in the community, was to identify and work with a third party not for profit affordable developer and then attempt to then use that building to increase the amount of affordability.
0:34:02
That's still our objective.
0:34:05
It's something that I've committed to both in the MOU.
0:34:07
I've committed to it privately with you.
0:34:09
I'm committing to it today.
0:34:11
The reality is that when everyone knows that without government subsidy, and in this case, significant government subsidy, it is impossible to execute in a plan like that.
0:34:22
That doesn't mean we've given up on it.
0:34:24
It means that we have to continue working and my belief is is that as soon as we get this project certified as before you today, we can continue those discussions and do what we can to try and enhance the affordability that you and I have talked about for so long.