New York City’s affordable housing policy has created attractive low-cost housing, but the price of success has been high.
In November, an affordable-housing development designed by renowned British architect David Adjaye opened in Manhattan's Sugar Hill neighborhood. The building's unique, cantilevered design, along with its ground-floor school and children's museum was hailed for its beautiful, unique design.
The problem: The nonprofit that built the Sugar Hill Development has asked the City Council to cover $4 million in construction cost overruns on the now $70 million residential portion of the building, bringing the per-unit price to more than $550,000, according to Crain’s New York Business.
The 124-unit structure is one of several financed under the Bloomberg administration that have gone well beyond the average cost for affordable housing in the city, which industry experts say has rarely exceeded $400,000 per unit, Crain’s says.
Though recent affordable housing projects, which have included neighborhood amenities, have been well received, the cost of these projects has reportedly become an increasingly contentious issue.
Related Stories
Multifamily Housing | Feb 21, 2021
Multifamily Amenities Survey 2021: Early results show COVID-19 impact on apartment amenities
Survey of multifamily developers, owners, architects, and contractors shows many adjusting their amenities to deal with the impact of the pandemic on property occupiers.
Multifamily Housing | Feb 19, 2021
Former motorcycle factory converted into affordable housing
The Architectural Team designed the project.
Multifamily Housing | Feb 12, 2021
Benefits of a factory-installed ceiling radiation damper explained
Greenheck applications engineer Craig Kulski explains the benefits of a factory-installed ceiling radiation damper.
Multifamily Housing | Feb 10, 2021
The Weekly show, Feb 11, 2021: Advances in fire protection engineering, and installing EV ports in multifamily housing
This week on The Weekly show, BD+C editors speak with AEC industry leaders from Bozzuto Management Company and Goldman Copeland about advice on installing EV ports in multifamily housing, and advances in fire protection engineering.
Multifamily Housing | Feb 10, 2021
10 significant multifamily developments to open in late 2020 and early 2021
Seattle's new twisting condo tower and Rem Koolhaas's first residential building are among 10 notable multifamily housing projects to debut in late 2020 and early 2021.
Multifamily Housing | Feb 8, 2021
Vista Railing Systems expands its senior management team
Chris Dooley and Tom Killy join Vista Railings, the British Columbia manufacturer of commercial/multifamily railings.
Multifamily Housing | Feb 8, 2021
Veterans Village supplies 51 units of supportive housing for U.S. military veterans in Carson, Calif.
Withee Malcolm Architects designed the supportive housing community for developer Thomas Safran & Associates.
Multifamily Housing | Feb 2, 2021
Tahanan supportive housing development brings 145 apartments to San Francisco
David Baker Architects designed the project.
AEC Tech | Jan 28, 2021
The Weekly show, Jan 28, 2021: Generative design tools for feasibility studies, and landscape design trends in the built environment
This week on The Weekly show, BD+C editors speak with AEC industry leaders from Studio-MLA and TestFit about landscape design trends in the built environment, and how AEC teams and real estate developers can improve real estate feasibility studies with real-time generative design.
Multifamily Housing | Jan 27, 2021
2021 multifamily housing outlook: Dallas, Miami, D.C., will lead apartment completions
In its latest outlook report for the multifamily rental market, Yardi Matrix outlined several reasons for hope for a solid recovery for the multifamily housing sector in 2021, especially during the second half of the year.