Now called Central Park Towers, the former Park West Village complex of more than 1,600 apartments began life as Mitchell-Lama housing on the Upper West Side.
Created in 1955, the Mitchell-Lama program provides affordable rental and cooperative housing to moderate- and middle-income families, as the city’s Department of Housing Preservation and Development notes.
There are 97 such rental and limited-equity cooperative developments in New York City, with more than 44,600 units. Not included are those that have been converted into condos, and they have a range of pluses and minuses.
Mitchell-Lama buildings are not to everyone taste–for example, mine–but they tend to offer excellent value as a tradeoff to their overwhelming size and what I see as their other liabilities.
Each of the four looming behemoths in the Central Park Towers complex contains (more…)