For decades, officials have failed to maintain the more than 170,000 homes that make up NYCHA’s vast network of aging buildings, most of which were built in the 1950s, leaving low-income residents in apartments plagued with lead. , mold and crumbling infrastructure.
In more than 40 percent of NYCHA apartments, or about 73,400 homes, residents reported three or more maintenance problems, compared with 8 percent of residents in private apartments, according to a recent city housing survey.
The agency estimates it will need as much as $40 billion for repairs and renovations.
As New York becomes more expensive and decent, affordable housing becomes harder to find, NYCHA residents are often trapped in these conditions, said Susan Popkin, a fellow at the Urban Institute, a nonprofit research organization based in Washington who has studied public studies. . housing.
“There really isn’t anywhere else for low-income people to rent in this city right now,” she said.
The median monthly rent for NYCHA apartments is about $500, and the median household income is about $18,500 per year, compared to $1,500 and $50,000 citywide. According to city estimates, more than 43 percent of NYCHA households employ at least one person.
More than 250,000 families are on a waiting list for an apartment in NYCHA, according to the agency.
The problems mirror those in social housing systems across the country. But with an official population of some 360,000 living in more than 330 buildings — more than the entire population of Pittsburgh, Orlando or St. Louis — NYCHA’s problems are smaller than those in other cities.
The newly formed company would be led by a nine-member board of directors, which would include the NYCHA chief executive, the chief financial officer, a deputy mayor, four NYCHA residents, a member appointed by the chief executive of the housing authority and a member appointed by the mayor to represent NYCHA employees.
Under the bill, a maximum of 25,000 units must be leased to the company and that number must be reviewed annually, with the potential for the legislature to approve an increase.