Leonard Grunstein Published in Republic 3.0

Leonard Grunstein was recently published in Republic 3.0, writing a piece titled, “Affordable housing must move beyond rent control.” In the new piece, Grunstein discusses a recent court decision that stated that the rent-stabilized apartments are public assistance benefits akin to disability benefits or welfare. Grunstein notes that while this decision is considered a victory by many affordable housing advocates, it may end up doing more harm than good.

Grunstein argues that the decision signifies the steady acceptance of rent regulation rather than a stopgap. “Originally, New York’s rent stabilization law was passed as an emergency measure meant to shore up affordable housing for the short-term until a more sustainable solution could be passed,” he says.

Within the op-ed, he suggests lifting rent regulations to incentivize developers to replace existing ones that contain more housing of both market value and affordable rates.

To read the full article, visit Republic 3.0.

Leonard Grunstein shares a video of NYC synagogues

Leonard Grunstein has recently released a video slideshow sharing photos of synagogues located in Midtown Manhattan. The video can be found on Grunstein’s YouTube channel and includes photos of such synagogues as, Chabad of Midtown on the east side of Fifth Avenue, near 42nd Street, and The Actor’s Synagogue on the north side of 47th Street, near 8th Avenue.

 

 

 

The answer to New York City’s affordable housing crisis is under its feet

Leonard Grunstein has recently published a new op-ed in Republic 3.0. In the op-ed, Grunstein describes a potential solution to New York City’s lack of affordable housing.

Currently, residents making between 20-40k per year are spending about 40% of their income on rent – a significant increase over the past 15 years. Partially to blame for the increase in costs is the surge in luxury towers over middle-income housing – which has some believing that New York is in the midst of a luxury housing bubble. Another significant reason, as noted by Grunstein, is a lack of land available in the private sector at prices low enough to allow the creation of affordable housing.

Details can be found by clicking the full article, here.

Leonard Grunstein shares videos of must-see locations around NYC

Leonard Grunstein has recently shared several videos that feature photos of some of NYC’s best places to do business. Bryant Park (Manhattan – New York Public Library), Amster Yard (East 49th Street) and Tudor City Greens (42nd Street – United Nations) have their own unique features that make each park the perfect place to enjoy the outdoors within New York City.

Photo slideshows and full descriptions of each park can be found on Grunstein’s Vimeo and YouTube channels.

‘Poor door’ no more: Here’s an easy fix.

Leonard Grunstein recently contributed to Crain’s New York Business, suggesting rent vouchers as an answer to New York’s affordable housing crisis and the recent “poor door” controversy. The “poor door” concept, which suggested a separate entrance for subsidized tenants at an Upper West Side luxury building, was a widely criticized suggested policy.

According to Grunstein, suggestion of this policy should come at no surprise. Having affordable and luxury housing units on the same site would allow developers to receive tax abatements so long as 20% of a building’s units are kept below market rate.

This does not need to be the only solution; however, and Grunstein suggests the use of rent vouchers to help families struggling to afford it. Rather than requiring more affordable units, the city must address the underlying problem: rents are out of reach for many hardworking families. This can be alleviated with rent vouchers that low-income tenants would use at apartments throughout the city like any other tenant, instead of being relegated to “poor units.”

The budget for the vouchers could be funded by requiring developers to pay into a city-administered trust fund, with contributions that were comparable to the cost of constructing affordable units. This change can more effectively align housing policy with need.