Governor Andrew M. Cuomo today announced an agreement that will preserve the affordability of Westview, a 361-apartment affordable housing development, for middle-class residents on Roosevelt Island for the next 30 years. Without the agreed upon affordability plan, the Westview owner could have taken the building out of the Mitchell-Lama program, with all of the apartments becoming market rate, delivering a devastating blow to tenants. Instead, the agreement allows Westview to exit from the Mitchell-Lama rental program with tenants being offered first-time home ownership opportunities at deeply affordable and below market prices, while simultaneously providing long-term affordability protections for those tenants who continue to rent.
https://www.governor.ny.gov/news/governor-cuomo-announces-ag...