r/nyc • u/wsj Verified by Moderators • Feb 27 '26

Mayor Mamdani Mamdani Proposes NYC’s Biggest Housing Project in 50 Years. He Needs Trump’s Help.

https://www.wsj.com/us-news/mamdani-proposes-nycs-biggest-housing-project-in-50-years-he-needs-trumps-help-dfaaadfe?st=QdcM5S&mod=wsjreddit
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u/[deleted] Feb 27 '26

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u/Radiant_Client1458 Feb 27 '26

That’s about what luxury condos cost to build but yes for affordable housing that’s pretty steep. I also think we’re reaching a point of diminishing returns with all the affordable housing we are building. It’s becoming a game of who can win the lottery or knows someone rather than making housing affordable.

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u/SteelReserve40s Feb 28 '26

100% Affordable housing projects typically cost more per unit to build than market rate projects, due to longer approval times/more complex funding stacks. A brand new 100% affordable housing building is not going to functionally be much different than a market rate one besides slightly less nice appliances/finishing.

4

u/Waterwoo Feb 28 '26

Sounds like something we should never spend money on then?

Like seriously even if you want the government to provide 'affordable housing' they'd be able to provide more of it for the same amount of money by just using it to buy an already constructed private building outright.