The flip side of New York's skyline: Crumbling public housing

"Through the municipal agency NYCHA, the city has offered reduced rents to low- and moderate-income residents since the 1930s, and currently houses 298,206 people in 152,926 apartments, distributed in 243 residential complexes that are popularly known as the projects. That means home to nearly one in 20 New Yorkers, mostly African-Americans and Latinos."

"The New York City Economic Development Corporation is the city's largest landlord, but the strong demand and long waiting lists due to the free rental market's soaring prices (over $5,000 a month in Manhattan), and the maintenance problems caused by cheap buildings from decades ago, are conspiring to hinder access. Add to that mix some contract-related corruption and the general state of disrepair of these buildings there was a partial collapse of one in the Bronx and the outlook is bleak."

"The state of many of the buildings given over to social housing recognizable by their gloomy appearance is so dire that the agency is considering demolishing them. Demolition and rebuilding is, they say, more affordable than renovation. This is the case with four projects in Chelsea, managed by the city since 1947 and abandoned to their fate. Their condition is so precarious, and the repairs so expensive, that the city plans to pull them down."

"Unlike other places in the U.S., this would be a first for New York. But there are real estate ambitions to consider: Chelsea is a very attractive area, and the market is adjusting to the possibility of empty plots."

NYCHA provides reduced rents to low- and moderate-income residents and currently houses 298,206 people in 152,926 apartments across 243 residential complexes. Nearly one in 20 New Yorkers lives in these aging buildings, with many residents being African Americans and Latinos. Strong demand and long waiting lists are driven by soaring market rents, while maintenance problems from decades-old construction contribute to deterioration. Contract-related corruption and building disrepair have worsened conditions, including a partial collapse in the Bronx. The agency is considering demolishing some projects because demolition and rebuilding are viewed as more affordable than renovation, with plans involving four Chelsea projects managed by the city since 1947.

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