Apartment rentals New York with 80/20 Program

Diversity is a term long associated with the melting pot that is NYC, but one rarely synonymous with Manhattan luxury rental apartments. However, in the past few years, dozens of luxury rental buildings have been developed with the financial assistance of the 80/20 program, which aims to provide affordable housing with a luxurious twist. This program, which has become especially popular since 2008, requires that 80% of the luxury apartments in the building utilizing this policy are rented at market-rate prices, while the remaining 20% are offered below market. But while many low-income families will benefit, at times living literally across the hall from their wealthier neighbors, those with higher incomes are poised to profit as well.