BREAKING NEWS

If you take the subway or bus on your commute you may be affected by the worldwide outage.

Bronx housing advocates call on FDIC to preserve affordable housing

Advocates are asking the FDIC, who is now responsible for selling the bank’s assets off, to select a buyer that is committed to preserving affordable housing for New York City residents.

News 12 Staff

Apr 3, 2023, 11:58 PM

Updated 472 days ago

Share:

A Bronx congressman and housing advocates are calling on the Federal Deposit Insurance Corporation (FDIC) to preserve affordable housing in the Bronx.  
Officials claim the recent collapse of Signature Bank has left thousands of local housing units at possible risk. According to Rep. Ritchie Torres, the bank’s housing portfolio consists of 80,000 individual housing units in 3,000 properties in New York City that have mortgages with the bank.  
Advocates are asking the FDIC, who is now responsible for selling the bank’s assets off, to select a buyer that is committed to preserving affordable housing for New York City residents.  
“The affordable housing crisis is in danger of deepening, and we have to protect our affordable housing stock from the threat of speculation and displacement,” said Torres.  
Jim Buckley, of the University Housing Program, says there are nearly 500 real estate properties in the borough that are currently for sale. Advocates say they’re concerned loans may end up refinanced at a higher interest rate, negatively impacting maintenance and other needed services.  
Torres says that the chairman of the FDIC has assured him its commitment in continuing to preserve affordable housing for New Yorkers.


More from News 12
1:44
NYC airplanes grounded following global outage

NYC airplanes grounded following global outage

1:30
Subways and buses across NYC still running amid worldwide outage

Subways and buses across NYC still running amid worldwide outage

1:10
Widespread technology outage disrupts flights, banks, media outlets and companies around the world

Widespread technology outage disrupts flights, banks, media outlets and companies around the world

2:08
Sunny, warm and humid conditions heading into the weekend for the Bronx

Sunny, warm and humid conditions heading into the weekend for the Bronx

1:41
Exclusive: Celebrity nail artist of Muñeca Beauty Salón & Nails shares her story

Exclusive: Celebrity nail artist of Muñeca Beauty Salón & Nails shares her story

NYPD: 4 men wanted for shooting woman in Throgs Neck

NYPD: 4 men wanted for shooting woman in Throgs Neck

2:00
Funeral service held for fallen NYPD recruit Edgar Ordonez

Funeral service held for fallen NYPD recruit Edgar Ordonez

13:51
'I’m not supposed to be here tonight.' Donald Trump recounts assassination attempt

'I’m not supposed to be here tonight.' Donald Trump recounts assassination attempt

1:52
'Safety hazard.' Business owner demands action from community leaders following massive fire

'Safety hazard.' Business owner demands action from community leaders following massive fire

1:39
'A living hell.' Disabled tenants say they feel stuck inside building due to broken elevator

'A living hell.' Disabled tenants say they feel stuck inside building due to broken elevator

1:14
NYPD officer shoots man with machete in luxury Mott Haven apartment

NYPD officer shoots man with machete in luxury Mott Haven apartment

1:00
Despite citywide drop in transit crime, it remains on the rise in the Bronx

Despite citywide drop in transit crime, it remains on the rise in the Bronx

2:09
Councilmember Zhuang speaks out following accusations of biting a police officer

Councilmember Zhuang speaks out following accusations of biting a police officer

1:38
Extras wanted for a film hosted by the Cinema on the Sound

Extras wanted for a film hosted by the Cinema on the Sound

0:23
Little joey makes its grand debut at the Bronx Zoo

Little joey makes its grand debut at the Bronx Zoo

0:29
Police: Man wanted for shooting another man in the face, shoulder in Kingsbridge Heights

Police: Man wanted for shooting another man in the face, shoulder in Kingsbridge Heights

1:39
NYPD: Suspects wanted for multiple robberies across Bronx, Queens

NYPD: Suspects wanted for multiple robberies across Bronx, Queens

1:45
Belmont residents claim landlord has neglected to make hazardous building repairs

Belmont residents claim landlord has neglected to make hazardous building repairs

1:25
Wake held for NYPD recruit who died days before hitting the streets

Wake held for NYPD recruit who died days before hitting the streets

1:44
Child care providers at Bronx nonprofit question why operations abruptly stopped weeks ago

Child care providers at Bronx nonprofit question why operations abruptly stopped weeks ago