New York City Mayor Bill de Blasio announced plans to acquire privately owned residential buildings and convert them into affordable housing in an effort to reduce the City’s homeless problem. The City is currently paying property owners to house homeless people in apartments in the buildings that the City wants to acquire. The City’s plan is to acquire the buildings and transfer them to nonprofit companies that will convert all of the apartments in the buildings into affordable units. The homeless people will stay in the affordable units. If the… read more
December 14, 2017