New York City Housing Authority chief Greg Russ is looking to accelerate “privatization.” Good: It’s the only real hope of saving many homes before projects literally start falling down.
The estimated cost of bringing all of NYCHA’s projects into good repair is $40 billion and rising. The only way to get that money is to leverage the private sector — including private-sector management in projects plagued by public-sector mismanagement.
Even before Russ took over, NYCHA planned to turn over 62,000 apartments to private developers for vital repair work via the federal Rental Assistance Demonstration program — an Obama-era initiative meant to save public housing nationwide.
None of this puts current tenants at risk — and residents of projects that have already entered RAD rave about the improvements.
Any city politicians who stand in the way of these reforms aren’t saving public housing — they’re dooming it.