Sonya Eskridge is a writer from Maryland, who started her news career in radio at the age of 17. After graduating from Virginia Tech, she went on to write for a national publication where she was able to mold her personal voice. Always looking for ways to inform on important issues--or share her love of nerdy and girly things—Sonya thoroughly enjoys writing about a wide range of subjects.
In case you haven’t heard of it by now, Extell announced last year that it wanted to build a 33-story high-rise apartment building in NYC called 40 Riverside Boulevard. A new apartment building in New York isn’t huge news, but the real estate development company made headlines when it revealed that 55 of the 219 luxury homes would be reserved for affordable housing.
Sound good so far? Well, it’s about to get soul crushingly terrible because the low-income units can only be accessed through a door in a back alley. Essentially, there would be a totally separate entrance just for the tenants that don’t earn as much money.
It seemed like an unbelievable thing to propose, and people all over the Internet were sure that it would be shot down. Imagine their surprise when the New York Post reported that the Department of Housing Preservation and Development just approved Extell’s Inclusionary Housing Program application.
With the department’s approval, Extell now has access to tax breaks on the building, which is going to be bigger than would normally be approved.
It’s interesting that the company has found a way to completely disrespect its affordable-housing tenants while benefiting from their presence at the same time. It will also be interesting to see how many people who qualify for those apartments would be willing to live there, knowing that they have a completely separate entrance based on their tax bracket.