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Affordable Housing Is Harder to Preserve in Nicer Areas

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A particularly unsurprising study from NYU's Furman Center, written up yesterday in the New York Observer, confirms that affordable housing is being preserved at much lower rates in neighborhoods that are otherwise desirable and expensive, such as, for example, every neighborhood south of 96th Street. Though one of the major focuses of Mayor Bill de Blasio's administration is the preservation of 120,000 units of affordable housing, the Furman Center study shows that, if the current trend continues, an exceedingly small percentage of those units will be located in areas with good schools, low crime rates, access to jobs, and decent transportation. Since 2000, the study found, only six percent of new affordable units have been built in Manhattan below 96th Street. In the '70s, that number was 17 percent. In addition, more expensive neighborhoods have seen more landlords choosing to opt out of affordable housing. Again, this should not come as a shock, but it is telling in terms of how little the city has done to this point to stem the tide of economic segregation, which is sort of supposed to be the whole point.
· Report: High-Opportunity Neighborhoods in NYC are Losing Affordable Housing [Furman Center]
· Affordable Housing More Frequently Preserved in Less Desirable Neighborhoods [NYO]
· Affordable Housing coverage [Curbed]