Is NYCHA’s Land Lease Plan Dead? Housing Authority Does Not Intend to Designate Sites Before de Blasio Takes Office

The New York City Housing Authority’s controversial land lease plan, in which the cash-strapped agency would have raised direly needed repair funds by building market rate apartments on public housing land, looks unlikely to become a reality, at least in the form proposed by the current administration.

Today NYCHA announced that despite receiving promising proposals for 11 of the 14 possible development sites in six of eight housing projects, it does not expect to move to a conditional designation of any of the sites until 2014, after Mayor Michael Bloomberg, a staunch supporter of the plan, is out of office.
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