Manhattan already has a surplus of higher-end rentals. Why do we need more?
The answer is that we don’t. Manhattan does not need more high-end, expensive housing. That’s why we are committed to fighting gentrification when we see it.
What tools do we use to combat gentrification?
Community Benefits Agreements
We can use Community Benefits Agreements (CBAs) to ensure that if new development is taking place, that the community has a say in how its built and who has access to the new development.
Examples of Community Benefits Agreements in Place
Why Community Benefits Agreements?
From Partnership for Working Families:
Community benefits tools maximize returns on local government investment in development.
Community benefits programs can transform regions through stronger, more equitable economies.
Community benefits help generate public support for economic development projects.
Delivering community benefits is smart business.
CBAs hold developers accountable for their promises to local governments and residents.
Public input results in better projects that benefit the whole community and attract local customers.
Community benefits are part of a smart growth agenda.
Time is money, and projects with CBAs often enjoy a faster, smoother entitlement process.