THE CPC WAY / Housing Policy and Legislation

Op-ed: Restoring public trust to public housing

By Rafael E. Cestero, Chief Executive Officer

The New York City Housing Authority (NYCHA) is New York City’s largest landlord, with more than 2,000 buildings in its portfolio housing over 350,000 authorized residents. Our city needs public housing, and yet our public housing is failing its residents.

NYCHA has been consistently underfunded, lacking adequate operating subsidy and the roughly $40 billion that is needed to address its capital needs. With desperately needed repairs and renovations and little funding to see it through, NYCHA is in crisis. Now is the time to take action that moves us quickly toward preserving, improving and sustaining the largest source of affordable housing in New York.

Today in City Limits, I write about how the proposed Public Trust model would finally empower NYCHA to leverage debt, allowing it to deploy capital quickly, cut through antiquated procurement rules, and make tangibles improvements in the lives of hundreds of thousands of New Yorkers.< I encourage you to check out City Limits to read the op-ed and learn more about this public solution for our public housing.


By Rafael E. Cestero, Chief Executive Officer
Rafael E. Cestero is the Chief Executive Officer of the Community Preservation Corporation (CPC), and a member of its board of directors.


Next Up

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