133rd Street
133rd Street is the northern boundary of the planned expansion
area and is dominated on its north side by 3333 Broadway, a dreary 35-story,
1,100-apartment complex that opened in 1976. The building was constructed
under the Mitchell-Lama program, a New York State program that sold the land
to the developer for $1 and offered heavily subsidized construction loans
and exemptions from property taxes in return for building exclusively for
low and moderate income families. Although the building was built atop
the Roberto Clemente Middle School and supposed to stay in the program
until the middle of the century, the developer pulled out of the program
in 2004. As units are vacated, they are renovated and rented at market
rate...significantly above what the previous residents were paying.
(reference)
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