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.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."