The article discusses Bloomberg's ideological opposition to socialism and how it influences his decisions on affordable housing during his time as mayor. Specifically, it highlights his refusal to mandate the inclusion of affordable units in residential developments like Fourth Avenue and Greenpoint, emphasizing his belief that incentivizing rather than requiring such units was sufficient. This ethos extended to his handling of other projects, like the Kingsbridge Armory, where Bloomberg's reluctance to impose living wage requirements led to failed plans. The piece argues that such an approach hinders advancements in housing affordability.
Bloomberg's economic philosophy was clear during his mayoral tenure; he vehemently opposed mandating affordable units in his urban development projects despite advocacy from local officials.
His unwavering stance against dictating terms to the private sector led to missed opportunities for affordable housing developments, causing some significant projects to stall or fail.
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