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Housing & Homelessness

NYCHA says it needs $78 billion to address outstanding repair needs

By Ben Brachfeld Posted on July 12, 2023
Houston_St_Ave_D_Columbia_St_td_2019-02-05_12_-_Lillian_Wald_Houses

The New York City Housing Authority said Wednesday that it needs $78.3 billion to address all of its outstanding repair needs, nearly double the estimate of five years ago as the city’s public housing stock continues to age and deteriorate.

The jaw-dropping estimate came in NYCHA’s newly-released 20-year needs assessment, which noted that more than half of the total repair needs are for assets that must be replaced within the next year, while 77% of needs must be addressed in five years. Just five years ago, NYCHA’s outstanding capital needs were estimated at $45.2 billion, which itself was considered a staggering figure.

See the full article at amNY

NYCHA says it needs $78 billion to address outstanding repair needs

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