With Public Housing Under Attack, Can An Ex-Lehman Banker Save New York’s Last Affordable Apartments?


Stepping off the elevator on the 12th floor of 250 Broadway, you pass by a dozen  photographs of idyllic, almost bucolic housing projects. The dogwoods are in bloom, matching the pink matting within the frames. That the pictures are a bit faded only adds to the utopianism of the scenes: families frolic in green grass courtyards, the sun is always shining.

These days, the picture is far less rosy: Apartments are overcome with toxic black mold, riven with cavernous leaks, overrun with rats, sometimes all three and then some. Repairs? Fuggetaboutit. Those will be years away. And that’s just inside; outside, it’s a war zone.

Or so the city’s tabloids would have you believe.

But the Housing Authority—or NYCHA, as almost everyone calls it, pronouncing it like some bureaucratic sneeze—represents much more than those run-down apartments we read about, of which there are fewer than the coverage suggests.
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