A recent report by the New York Housing Conference highlights significant inefficiencies in New York City's Housing Connect lottery system, which leads to affordable housing units remaining vacant for extended periods. The report reveals that many re-rental units are not publicly advertised and take excessively long to fill, causing substantial revenue loss for developers. Executive Director Rachel Fee emphasizes the urgent need for reform to align available units with those seeking affordable housing. Recommendations include exempting re-rentals from current lottery procedures and enhancing visibility of these vacancies.
New York City must fix this problem to better match New Yorkers in need of affordable housing with available units throughout the city.
Under the current system, single vacant re-rental units are not publicly listed, delaying their fill.
Collection
[
|
...
]