More than 40 of the city’s top landlords have created a $4 million fund — known as Project Parachute — to help struggling tenants pay rent.
Some of the top landlords include Brookfield Properties, The Durst Organization, and The Related Cos. The firms have partnered with the Real Estate Board of New York and the New York State Association for Affordable Housing to make this all possible. Millions have lost their jobs, but rent remains the same. Many are pleading for any type of rent relief, but they have not been successful thus far. The landlords understand that to keep the real estate industry afloat, rent must be paid. They are willing to help with the cause.
"Project Parachute is one of many steps needed toward providing vital resources to tenants, especially the unserved and the underserved," said Judi Kende, vice president and New York market leader of Enterprise Community Partners, the nonprofit that is managing the $4 million fund. "We have one common purpose in this moment: keeping New Yorkers in their home."
Comments