Affordable Housing Shortage?

In a post done by the Observer's Matt Scheurman, there's a discussion of the IBO report's focus on the ability of the Bloomberg administration to live up to its goal of creating 165,000 units of affordable housing: "...it questions whether he will be able to meet his goal of building new affordable housing, as opposed to merely preserving existing units." The report says: “Funding the remaining units to meet the plan’s new construction goals, however, may pose more of a challenge.” (than simply preserving what exists)

All of which should be of prime consideration when it comes to the review of the Columbia expansion plan by the City Council early next year-since the plan to develop 18 acres lacks any affordable housing componnent. If, as we have read, the university is willing to fund an affordable housing initiative, than the Council should insist that it be part of the expansion plan itself.

It goes without saying, then, that the swap proposal put forth by West Harlem property owner Nick Sprayregen, affords the best opportunity for the university and the Bloomberg administartion to close the current gap in the mayor's laudable affordable housing goal. Stay tuned.