NextGeneration NYCHA is Here
On May 19, Mayor Bill de Blasio and Chair and CEO Shola Olatoye announced NextGeneration NYCHA (NextGen), a comprehensive ten-year plan to stabilize the financial crisis facing New York City’s public housing and deliver long-needed improvements to residents’ quality of life. The plan will change the way NYCHA is funded, managed, and how it serves its residents.
“The status quo has forced NYCHA residents to shoulder the burden of billions in disinvestment from the federal and state governments, and to live with mold, broken heating, vermin and too many other symptoms of a crumbling Housing Authority,” Mayor de Blasio said. “We will take every action to help NYCHA emerge from the financial crisis that has crippled its ability to provide safe housing in good repair to hundreds of thousands of our city’s hardworking families. Our plan reflects the tough decisions necessary to deliver a stronger, more effective housing authority that can take care of its buildings and its people.”
“After meeting with hundreds of residents across the city for more than a year,” said Chair Olatoye, “there is clear consensus—the current system is broken and the status quo is not working. Without meaningful changes to the way NYCHA does business, our residents will continue to feel left behind and the future of public housing will remain in jeopardy. NextGen aims to transform NYCHA into a modern landlord with sound finances and effective property management. Key strategies, such as cutting expenses, raising sustainable revenues, leveraging our strengths and taking a more thoughtful approach to resident engagement, means we can make real progress in improved quality of life for residents.”
Over ten years the plan’s 15 strategies will both reduce NYCHA’s capital needs by $4.6 billion and produce a cumulative operating surplus of over $200 million. The full plan can be viewed at on.nyc.gov/nextgeneration.
