NYCHA developments full of high-rises seem massive from a distance, but on closer examination their visual bulk disguises a deeper truth: they are dominated by open space. What to do with all this unbuilt space has inspired competing and controversial plans for infill and redevelopment. A growing number of policy experts believe that the New York City public housing authority would benefit just as much from a more aggressive program to transfer development rights for cash. They are right.
Intrepid staff at the Regional Plan Association have now calculated that a straightforward rule change (a city Zoning Text Amendment) could put into play an astounding 78 million square feet of NYCHA’s transferable rights. Selling these rights, they estimate, could yield $4.2 to $8 billion for NYCHA repairs.
Read more on Gotham Gazette.