A new investigation by Politico has revealed that the New York City Housing Authority needs nearly $32 billion over the next five years to carry out repairs and renovations on its buildings throughout the city. That’s even higher than a Wall Street Journal investigation had revealed in March this year.
Politico’s findings are based on studies conducted by the city in 2016 and 2017, which it hadn’t yet made public. However Politico’s discovery of some of these findings last week prompted the city to confirm them, and the city is planning to release these findings later today.
Some funding has already been secured—the city has committed $2 billion toward repair work, and Governor Andrew Cuomo has committed funds to the repairs, but will only do so once a federally appointed monitor has been appointment to oversee the disbursement of these funds.
Topping the list of funding requirements is apartment interiors. The agency needs about $12.6 billion over five years to upgrade kitchens, bathrooms, and floors, among other parts of the apartments. Repair work on elevators requires $1.5 billion, and fixing the heating systems will require $1.3 billion. A previous study of NYCHA’s needs, in 2011, pegged the financial requirements at $16.8 billion, so this is a significant jump in costs in less than a decade.
The news comes on the heels of another investigation which revealed that 820 children in NYCHA housing had high levels of lead in their blood between 2012 and 2016. NYCHA relies on various funding sources for its needs but with the Department of Housing and Urban Development threatening cuts to public housing across the country, the nation’s largest public housing agency may be even further impacted.
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