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Posted: Wednesday, 08 July 2009 5:45PM

NYC to Turn Unsold Condos Into Affordable Housing



NEW YORK (AP)  -- Unsold condominiums and unrented apartments are being turned into affordable housing under an experimental city program.

City Council Speaker Christine Quinn first proposed the idea, and now she and Mayor Michael Bloomberg say the city is dedicated $20 million to try it out.

The city says as many as 400 units of housing could be created under the pilot program.


Copyright 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.
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