Two firms are offering New York City a solution to a slew of affordable housing issues.
To make it work, Greystone and Lappin Associates need a property-tax break for rent-regulated housing.
Their plan would address two controversial elements of the rent-stabilization law passed last year: its severe limits on regulated rent increases to pay for improvements, and its elimination of means-testing, which lets even the wealthiest New Yorkers lease rent-stabilized units.
Read more in The Real Deal.