The waterfront megaproject of Astoria Cove, which is currently going through the city's approval process, has become a poster child of sorts for the ongoing citywide push to build more affordable housing. "20% will not be the final figure. The City Council is certain to insist on a higher number, something like 30%, although no one is sure yet what it will be. The real question is whether the developer will accept a smaller profit or insist on a subsidy in return. If so, will the city offer low-cost financing, tax breaks or cash?" [Crain's; previously]
Filed under: