robinslist is a consulting service, not a real-estate brokerage company. Upon receiving an application, we search, mail away and track affordable housing lists in the 5 boroughs, for our clients.
Since 1991, we have focused on available housing of Mitchell-Lama, Section 421-a, 80/20, J-51 and The New Housing Marketplace buildings in the 5 boroughs.
The Mitchell-Lama housing program was created in 1955 and offers thousands of quality co-ops and rental units. However, strict maximum income limits are in place for prospective tenants and waiting lists can range from months to years. The 80/20 programs, which are newly constructed buildings, have to rent 20% of the apartments to low income residents in order for the landlords to get tax exemptions.
Section 421-a was established for new construction and J-51 is for entirely refurbished properties. These two programs are the two most widely used programs which give landlords tax incentives to establish affordable housing.
During Mayor Michael Bloomberg’s 3 terms, 165,000 units of housing were preserved or built at an investment of more than $5.3 Billion.
In May, 2014, Mayor Bill De Blasio announced a new, hugely ambitious housing plan, with the goal of creating or maintaining 200,000 affordable units through 2024, which would consist of 80,000 new units + preserving 120 existing ones. The Mayor is estimating that it will take $2.9 Billion in State & Federal money, and more than $30 Million in private funds to achieve this.