Why is the city holding onto hundreds of vacant sites?

The city controls hundreds of vacant parcels of land that could be used for some 50,000 units of affordable housing, according to a new report by City Comptroller Scott Stringer. Instead, the land has languished. Two years ago, the comptroller’s office identified 1,125 vacant parcels controlled by the city’s Department of Housing Preservation and Development. At the time, agency officials said 450 of those sites would be transferred to developers within two years, Crain’s reported. […]

Source: Real Estate

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