CityRealty Insider > New Developments in the News

New Developments in the News

MAY 10, 2010

Affordable housing plans are on track at the halfway point; A new addition in a historic district gets 86ed; Washington gets tapped for subway expansion.

Mayor Michael Bloomberg announced this month that his administration has made 100,000 affordable homes available since 2003, putting his New Housing Marketplace Plan on track to create or preserve 165,000 affordable housing units by 2014.

The Landmarks Preservation Commission has ordered that the top floor be removed from an Upper West Side townhouse to comply with landmark district regulations. Previous owners of the 19th-century Queen Anne-style building at 12-14 West 68th Street had gotten a permit from the Department of Buildings for the top-floor addition—intended to add extra rental space—but the commission was never told of the owners’ plans to expand.

A delegation of real estate execs recently lobbied Washington for federal funding to build a subway station at 10th Avenue and 41st Street, arguing that a 41st Street station would make the neighborhood a much more desirable place to live and work. The second station, which would be part of the extension of the No. 7 subway line in Manhattan, would require an estimated $500 million in addition to the $2 billion that the city has agreed to pony up to extend the No. 7 line from Times Square to 34th Street and 11th Avenue.

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