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Proposal for CUNY Properties Could Yield $5.4 Billion Housing Solution

2/16/2026

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Summary

Story summary

The Center for an Urban Future urges the City to develop affordable housing on City University of New York properties, including parking lots.
The plan could generate $30 to $55 million annually to address the housing crisis.
Underutilized land at various CUNY campuses could support significant housing projects, with potential revenues of up to $5.4 billion over 99 years.
Mayor Zohran Mamdani's office has not yet commented on the proposal.

History

Historical Context

Established in 1934 by Mayor Fiorello La Guardia, the New York City Housing Authority aimed to combat severe housing shortages during the Great Depression, resulting in over 180,000 affordable units built by 1943. Today, a proposal to develop affordable housing on CUNY properties reflects this legacy, potentially generating $30 to $55 million annually to address New York City's ongoing housing crisis.

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Story summary

The Center for an Urban Future urges the City to develop affordable housing on City University of New York properties, including parking lots.
The plan could generate $30 to $55 million annually to address the housing crisis.
Underutilized land at various CUNY campuses could support significant housing projects, with potential revenues of up to $5.4 billion over 99 years.
Mayor Zohran Mamdani's office has not yet commented on the proposal.

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