The rent is too damn high, but so are a lot of other development costs. In this simulation game by NYC’s Citizens Housing Planning Council, players go through the steps of planning a NYC rental in the current economic climate complete with housing shortage and gentrifying neighborhoods.
After choosing a site, players must set targets for rent, construction wages, amenities, building size and as they outfit their property, they see costs go up, and whether their target rent will actually yield a profit. Or (gasp!) whether they’ll need to apply for government subsidies. According to the CHPC, the figures used in the game “are based on interviews with developers, appraisers, architects and underwriters, and are current as of 2015.”
Read more in Archinect.