NYC Mayor Sets Money Aside in Preliminary Budget For Program to Legalizing Basements in Brooklyn

According to the city's 88.7 billion dollar budget, Mayor de Blasio has set aside 5.7 million dollars for a program to legalize basements in East New York.  The pilot program will be set up in East New York, Brooklyn and is part of the Mayor's plan of adding an additional 5,000 affordable housing units in the city which is a major goal of Mayor de Blasio.  The project will turn basement apartments in East New York into legal and habitable units and is part of a larger investment of 12.5 million dollars over a 3 year period.

City Councilman Rafael Espinal was a proponent of the East New York Neighborhood Plan whose goal is to "promote affordable housing preservation and development, encourage economic development, create pedestrian-friendly streets, and invest in community resources to support the long-term growth and sustainability of East New York, Cypress Hills and Ocean Hill" according to the city's website.  A spokesman for Mr. Espinal has indicated that the process of legalization would include include ensuring the presence of a window, proper fire safety requirements and other security provisions.  The City will also  loan money to cover retrofitting costs and for tenant relocations for the period of when the repairs need to be performed.  City agencies will also guide homeowners through the process and the converted units will be regulated by HPD.

Mr. Espinal stated “For too long tenants and homeowners were being put at risk of eviction and major fines, while the city was missing out on an opportunity to maintain thousands of affordable units.  I am excited for what the pilot program will yield for our immediate community, but I am also eager to see how this will reshape New York if the pilot is successful and goes to scale across the five boroughs.”

Blue Harbour Property Management is a full service NYC property management company servicing the boroughs of Queens, Brooklyn, Manhattan and the Bronx.  Whether it be a 1 bedroom condo or multi-family building we are able to assist our clients maximize their investments.

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