By Travis Gonzalez, June 13, 2017
Following New York City Mayor Bill de Blasio’s pledge to bring 80,000 new low-cost units to the city, affordable housing development has become a popular topic. But within the spectrum of development, which runs the gamut from low-income apartments to luxury penthouses, units reserved for workforce housing, households making from 60% to 120% of the area median income, are a less prominent part of the conversation. More than 1 million people, often older workers and middle class families, have moved out of the New York City area since 2010, at a yearly rate of 4.4%. As the economy improves and workers relocate to cheaper areas farther from urban centers, developers looking for a lower barrier to entry have found opportunity outside the five boroughs, along the transit lines that feed into the city.
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