The initiative on affordable housing is finally making progress. As part of the Mayor’s agenda, affordable housing has been recorded to be part of one fifth of de Blasio’s construction budget. Now that this project has finally progressed in New York City, people from lower and middle incomes can acclimate to a better living. The new housing is on the spectrum of “market rate” which means the real price or cost of something is decided by a market rather than a calculated or fixed price. The majority of the construction and development is supposed to be taking place in the Bronx because of its historically impoverished area compared to its other borough neighbors which will take a lighter amount of the project.
Sounds perfect, right? Well, there seem to be two obstacles that are stalling the project in order to preserve community identity and close the wealth gap. We have already spoken about how the new provision in 421-a will be playing a factor in the development. The next issue entails the idea of gentrification in the neighborhoods the development will be taking place in. Mayor de Blasio has considered himself to be a champion of diversity with his progressive agenda, but a lot of the boroughs have been on the attack with activists and residents. In the most recent years, the idea of taking down gentrification in New York City has risen. There is opposition on both sides of the aisle on this concept in regards to implementing better infrastructure versus knocking down original buildings and developing newer ones to enact middle-class values.
Does the idea of bringing in affordable housing now have a more internal meaning to its opposition or is it necessary more than ever to house those who cannot afford it in New York City?