4 inconvenient facts about Mamdani’s model project

The groundbreaking on Wednesday for Timbale Terrace, a project by Emanuel Kokinakis’ Mega Group and Dan Kent’s Lantern Organization, was a perfect event for Mayor Zohran Mamdani to attend. It’s a model for what he wants to build: 100 percent affordable housing on city land. But is it a perfect model? Far from it. Mamdani’s goal is to build 200,000 units in 10 years. Don’t hold your breath. Because the city’s processes are so cumbersome, Timbale Terrace took 10 years just to break ground and won’t open until 2028. It took five years for the city to pick a developer […] This article originally appeared on The Real Deal. Click here to read the full story.