This Wednesday, March 6, 2013 photo shows the apartment building at 1475 Madison Avenue in New York. Officials want to demolish existing areas on public housing properties _ a baseball field, a community center, a parking lot _ and build more than half a dozen brand-new luxury apartment complexes. (AP Photo/Frank Franklin II)
Pricey NY apartments to rise on public housing
This Wednesday, March 6, 2013 photo shows the apartment building at 1475 Madison Avenue in New York. Officials want to demolish existing areas on public housing properties _ a baseball field, a community center, a parking lot _ and build more than half a dozen brand-new luxury apartment complexes. (AP Photo/Frank Franklin II)
By MEGHAN BARR and JENNIFER PELTZ
Associated Press /
March 8, 2013
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NEW YORK (AP) — New Yorkers pay dearly for the privilege of living in one of the world’s great cities. But would they shell out top dollar for an apartment on the grounds of a public housing project?
That scenario could play out across Manhattan under an unprecedented proposal by the city housing authority to lease out public housing land and allow developers to build market-rate apartment buildings.
An estimated $50 million per year generated by the developments would help replace decades-old heating systems, elevators and roofs.
The proposal is awaiting federal approval.
Rich and poor already live in close proximity to each other in New York. But some public housing residents are worried they might be looked down upon by their new, well-to-do neighbors.
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