How can affordable housing become a reality in cities like New York, whose current blueprint and zoning regulation is not easily suited to modern market-rate and affordable housing development?
https://www.afire.org/podcast/202411cast/
In our latest episode of the AFIRE podcast, CEO and host Gunnar Branson speaks with David Kramer, president of the Hudson Companies, a leading developer in NYC, about what it takes to build affordable housing in a city made for anything but.
It’s a wide-ranging, entertaining conversation about the challenges of living and developing real estate in one of the most vibrant cities in the world—and America’s key “gateway” city. Kramer and Branson explore the tension between developer’s public profiles, and the realities of trying to build new projects in a sustainable way, while also nurturing a city that is hospitable to people from all walks of life.
Kramer also takes down the common misconception that landlords determine rents. In fact, Kramer says that achieving housing affordability starts with increasing the number of units in a given market. “The solution . . . should not be chastising landlords and trying to limit rent increases—it should be increasing the supply.”
With decades-worth of insider perspective and a whole host of entertaining analogies, Kramer’s interview provides a portrait of a New York developer doing his best to contribute to a city where people love to be—and what other cities can learn from this approach.
