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State senate proposal would use distressed commercial property for affordable housing.

NEW YORK — State Sen. Michael Gianaris proposed legislation in Albany this week that would clear the way for the state to use federal funds to purchase distressed commercial property and convert them into affordable housing units for low income and homeless New Yorkers.
“You have hotels and commercial properties that are on the market for sale because of the shutdowns we’ve had,” Gianaris said.
The new housing should be managed locally, Gianaris believes.
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