HPD reads list of Mitchell-Lama developments with pending rent increases
HPD staff read into the record a list of developments with pending or scheduled rent increases, including Washington Square Southeast, Sam Burt, Trinity House, First Atlantic Terminal, Jefferson Towers, Tracy Towers, Masrick Towers, Rupert House, and Lincoln-Amsterdam, with requested increase percentages.
the list of projects with the rent increases pending.
Okay.
Will you just read them into the record?
How many are there?
It's a large list.
Let me read it and then we can.
Sure.
And they're at different stages of the.
So these are all the Mitchell Lama, just to be clear, I want to make, these are all the Mitchell Lama developments across the city that are going to face rent increases, correct?
Yes.
Okay.
So, well, they're in different stages of the increase process.
And can you specify the amount of the increase at the same time?
So I can specify the amount that they have requested, but we haven't done any of the reviews yet for the list that I'm about to name.
First, and I think, I'm not sure what the order is, so I'm just going to go through what they sent me.
Washington Square Southeast is a co-op.
And they're looking at a three-stage increase of 15, 10, and 5.
The next one is Sam Burt, which is also a co-op.
And with both of those, those were just the applications were received.
And that increase that they requested is 15, 7, and 7.
And again, this is the co-op.
requesting this.
The next is Trinity House, which is a rental where the public hearing is scheduled.
And that they're looking at three stages of seven, seven and seven.
The next is First Atlantic Terminal, which is a co-op, and they are looking at 2.5% and 2.5%.
Next is Jefferson Towers, and they are looking at a 10 and a 6, and the hearing is scheduled for there.
Tracy Towers, we recently held the hearing.
Masrick Towers is...
Looking to increase their to 15 and 5.
And Luna, I'm sorry, Rupert House, the hearing was completed.
And they're looking at a 15, 10, and 5.
Lincoln, Amsterdam, the hearing was completed, and they're looking at a 30 and a 10, but I just want to actually note on that one, they haven't had an increase in 25 years.
And Jefferson also has not had an increase in many years.
They both have commercial space that supports the developments.
And those are the, that's what we have.