What do lease-up times tell us about how the City can move residents into new affordable housing units more quickly?
CHPC began its analysis of the City’s affordable housing lottery trying to determine if and how long newly constructed units sit vacant while tens-of-thousands of New Yorkers remain homeless and housing insecure. The initial study found that affordable housing lotteries administered by the City through the online Housing Connect portal took over a year, on average, to fully lease. The importance of timely lease-ups has grown with the burgeoning of the city’s shelter population and severe housing shortage.
Using a more granular and inclusive lottery dataset, CHPC expanded upon its previous analysis of how long it takes for tenants to move into new affordable lottery units.
The resulting analysis of lottery durations (marketing start to lease-up) and unit vacancy durations (TCO/CO to lease-up) found that:
• One in three lotteries began marketing only after units were completed, leaving units sitting vacant for longer
• Projects participating in the Inclusionary Housing and 421-a programs experienced longer lease-up times
• Substantial variation in lease-up times existing among the boroughs, with lease-up taking markedly longer in Manhattan and Brooklyn
These and other findings highlight the importance of the routine compilation and monitoring of lease-up data to support ongoing process improvement. CHPC also recommends the exploration of alternative models, including the piloting of audit-based placement systems.
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