Dive Brief:
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New York University’s Furman Center for Real Estate and Urban Policy has launched an online tool that tracks housing and neighborhood data for New York City at the individual property level.
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CoreData.nyc draws information from city, state and federal sources to offer more than 100 indicators describing New York City’s housing and neighborhoods, including subsidized housing, foreclosure notices, population density, median home sales price, renting affordability, commute times and more.
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The project is an extension of the Furman Center’s Subsidized Housing Information Project, which launched in 2011. CoreData.nyc was funded by the New York City Council, supported by Capital One and developed by Applied Geographics.
Dive Insight:
The launch of CoreData.nyc comes in response to growing demand for clarity in New York City’s affordable housing sector. The tool allows users to follow new affordable housing as it is planned and built as well as track the expiration of subsidies.
New York is one of several U.S. cities facing a shortage of affordable housing due to job growth, population increases and surging home prices in the area. New York Mayor Bill de Blasio is attempting to deliver 200,000 new or existing affordable homes in the city over the next decade. Recent initiatives like the revamped 421-a tax credit encourage real estate developers to build more affordable housing.
The city council also recently approved four new low- and middle-income housing developments in East Harlem and the Bronx.
Data-collection systems are being rolled out elsewhere, too. In November, the Massachusetts Institute of Technology’s Center for Real Estate announced a plan to build a real estate database for New York City that will include rents, mortgages and vacancies. MIT’s goal is to gather information to better inform the data-driven cities of the future.
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