The Daily Dirt: A new path to affordable housing takes shape in Soho

To say the Soho/Noho rezoning has not met expectations would be an understatement.  But a residential project at 43 Bleecker Street might provide a template for developers eyeing the neighborhood. The project, an 11-unit condo conversion of a historic six-story building by the Caedes Group, is the first to take advantage of a long-available option for developers looking to meet Mandatory Inclusionary Housing requirements.  Developers have historically met those requirements by building the affordable units themselves, but projects of a certain size and unit count are eligible to pay into the Department of Housing Preservation and Development’s Affordable Housing Fund.  […] This article originally appeared on The Real Deal. Click here to read the full story.