The high cost of low-income housing units

06/10/2014 | New York Times (tiered subscription model), The

Units designated as affordable housing in a new luxury Manhattan apartment building equate to an annual subsidy of $90,000 -- money that could go much further in less pricey areas, writes columnist Josh Barro. The units were set aside through New York's voluntary inclusionary zoning program, which Mayor Bill de Blasio wants to make mandatory. Some say the policy, though controversial in New York and elsewhere, is a better vehicle to create affordable housing in the city than charging developers fees because of the high cost of land.

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