The last time NYC faced a cataclysmic economic threat, privatization set us on a path of rampant inequality. But there are more promising lessons in our history too. Brooklyn Navy Yard & Penn South point the way to combining growth + equity. My NYT Op-Ed: https://www.nytimes.com/2020/09/02/opinion/new-york-housing-stores-land-banks.html">https://www.nytimes.com/2020/09/0...
The @BklynNavyYard is an amazing story. Instead of being sold for scrap or converted to condos, there are 500 companies employing 11,000 people in good jobs. Listen to their CEO David Ehrenberg on how it happened: https://drive.google.com/file/d/1YGbcIfhJtiL2fbcombSbINJeZHjItw0J/view">https://drive.google.com/file/d/1Y...
The connecting thread between the Navy Yard and Penn South is “social ownership.” So instead of letting properties that fall into distress through the pandemic get auctioned off or sold to vulture funds, NYC should acquire & put them to public purpose.
Thanks to the leadership of UHAB aka @NYCHomesteading and @MitchellLama United, NYC has 90,000 limited-equity coops, one of the very few sources of affordable homeownership for working families. We can preserve these & create many more. https://urbanomnibus.net/2018/01/limited-equity-co-ops/">https://urbanomnibus.net/2018/01/l...
Before the pandemic, this report from @NYCComptroller found that a land bank could generate nearly 60,000 units of truly & permanently affordable housing. The opportunity & need will be so much larger in the days ahead. https://on.nyc.gov/3jEJ0wA ">https://on.nyc.gov/3jEJ0wA&q...
The grounding principle of NYC’s economic recovery must be long-term investments in affordable housing + jobs that bring genuinely shared, equitable growth. We should be clear-eyed about the challenges. But that’s the path forward. https://www.landerfornyc.com/just-recovery ">https://www.landerfornyc.com/just-reco...
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