The Trump administration's Opportunity Zones program has been marketed as a means to boost affordable housing, despite evidence suggesting otherwise. A new report from NYU's Furman Center highlights that the majority of housing constructed in these zones in New York City is market-rate and situated in higher-income areas. Proposed adjustments from Congress aim to re-evaluate income thresholds for zone selection but are unlikely to enhance affordable housing construction. Furthermore, budget cuts in other housing programs threaten the future of affordable housing development, raising concerns over the effectiveness of Opportunity Zones.
The findings of a new NYU report reveal that housing built in Opportunity Zones in New York City is predominantly market-rate, located in non-low-income districts.
Congress proposes changes to Opportunity Zones, yet these adjustments are unlikely to promote affordable housing construction and may negatively affect development.
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