Preserving Affordability at Penn South | chelseanow.com

Preserving Affordability at Penn South

Councilmember Corey Johnson in the Council chambers at City Hall. Photo by William Alatriste via NYC Council.

Councilmember Corey Johnson in the Council chambers at City Hall. Photo by William Alatriste via NYC Council.

BY COUNCILMEMBER COREY JOHNSON | Since taking office in 2014, one of my highest priorities has been to preserve and create affordable housing in Council District 3. This is absolutely essential if we are to address our housing crisis and retain a viable middle and working class.

A big part of that effort involves preserving affordability at Penn South, the 2,820-unit cooperative that has been a beacon of affordable homeownership in Chelsea for over 50 years.

I am pleased to report that on February 1, the New York City Council passed a resolution to extend existing tax abatements for Penn South to the year 2052.

Here in the heart of one of the most expensive cities in the country, the people of Penn South have maintained affordability through smart planning and determination. They have set an example for the rest of the country to follow as a place where middle-class New Yorkers can establish a home, raise a family, be part of their communities, and retire with dignity and comfort.

This accomplishment would not have been possible without the leadership of the Penn South Board of Directors, as well as the efforts of General Manager Brendan Keany and his team, whose tireless efforts ensured that Penn South will be on steady footing for generations to come.

I would also like to thank Senate Minority Leader Charles Schumer and Congressmember Jerrold Nadler for orchestrating the federal government’s role in preserving affordability at Penn South. State Senator Brad Hoylman, Assemblymember Richard Gottfried and Manhattan Borough President Gale Brewer have also been stalwart champions of this effort.

As we face the very real prospect that that our nation’s affordable housing stock will be jeopardized under the Trump Administration, we must not waiver. We must not allow our city to become an enclave for only the wealthiest, where the price of admission is a high six-figure salary.

We must make sure that millions of New Yorkers who have worked hard their entire lives have an opportunity to live in the heart of this city, and take part in all aspects of what it means to be a New Yorker.

As your councilmember, I will continue to seize every opportunity to maintain affordability, and I look forward to working with my fellow West Siders and elected officials to make sure that New York remains a place for all people.

Councilmember Corey Johnson represents District 3 in the New York City Council, which covers the neighborhoods of Hell’s Kitchen, Chelsea, the West Village, and parts of Flatiron, SoHo, and the Upper West Side.‎ Contact his office at 212-564-7757 or by email at district3@council.nyc.gov.

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  1. […] last Chelsea Now reported on the situation in early February, the City Council had just passed a measure ensuring that the “shelter rent” tax abatements Penn South currently enjoys (which helps to […]