Selling of vacant land in the city may mean more affordable housing in the BronxPosted: Updated:
Mayor Bloomberg announced Thursday that the city will now be accepting bids from developers to build on 248 vacant lots.
City officials say developers will be chosen based on how much affordable housing they can build and not on how much they bid for the land. Officials say this will help people in New York afford to buy or rent a new home.
The Department of Housing Preservation and Development says this is the first time it will give preferential treatment to developers who can build environmental friendly buildings. The city hopes to get more than 32,000 units from the sale of the land.