A shelter in the Bronx is shaking up the homeless shelter model by becoming its own landlord
Share Now on:
The economics of housing the homeless is a tricky equation, especially in New York City, which has a right-to-shelter mandate, meaning the city has to provide a temporary bed to anyone who needs it. Because of demand, the city often houses people in apartments and hotels where accommodations can be spotty and social services nonexistent.
But one shelter in the Bronx, called Landing Road Residence, is trying a new approach. It’s owned by the nonprofit Bowery Residents’ Committee, which operates a 200-bed shelter there and offers 135 subsidized apartments. Here’s how it works: Many shelters rely on city funding to rent market-rate space. BRC built Landing Road. Instead of paying money to a landlord, it puts the subsidy it gets from the city toward a building loan. What’s left over subsidizes apartments.
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.