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New city rule requires luxury rental buildings to house homeless families

Homeless families will now be able to apply for housing in luxury buildings thanks to a new city rule. Developers who are unable to fill affordable units in their luxury buildings through the housing lottery will be required to provide those apartments to shelter residents, Bloomberg reported. The rule will apply to developers who received tax breaks in exchange for setting aside affordable units. About 200 vacant units were eligible as of Friday, Bloomberg reported,

The Real Deal New York

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