Bronx and city may face an affordable housing shortage over the next decade
The city comptroller warns that the Bronx and city could be hit with an affordable housing shortage.
In a new report released by City Comptroller William Thompson, agreements between the city and affordable housing groups such as Mitchell Lama and Limited Dividend could expire over the next decade.
Right now, there are more than 40,000 units in the Bronx represented by the Mitchell-Lama and Limited Dividend programs, which offer subsidized mortgages. According to the city, if building owners choose not to stay with the programs, the units will be turned into regular housing and costs will skyrocket.
Some Bronx residents say without affordable housing they will be forced to move.
The comptroller's possible solutions include renegotiating deals with affordable housing providers and building more affordable housing.