WHO: NYS Congressman Jerry Nadler, NYC Comptroller Scott Stringer, Manhattan Borough President Gale Brewer, NYS Assemblymember Yuh-Line Niou, NYC Council Member Margaret Chin
WHAT: Rally for Rent Stabilization at Gateway Plaza, Battery Park City
WHEN: June 2, 2019; 5:00pm
WHERE: Volleyball Court, Esplanade Plaza, Battery Park City (south of North Cove)
In advance of the June 2020 impending expiration of rent protections at Gateway Plaza, the Gateway Plaza Tenants Association is mobilizing tenants to urge the LeFrak Organization to complete its negotiations with Battery Park City Authority to renew the contractual rent protection agreement in place since 1987.
The first residential building in Battery Park City, completed in 1983, Gateway Plaza was originally envisioned as affordable housing for all tenants in the 6-building, 1,700-unit development. In exchange, Gateway Plaza has received a substantial discount on its annual ground lease payments.
Gateway Plaza has always served as a haven for the middle-class families, young people and seniors who choose to make Battery Park City their home. In the aftermath of the terror attacks of 9/11, an overwhelming majority of Gateway Plaza residents returned to rebuild their community, spurring on the wildly successful revival of Battery Park City.
The rent stabilization agreement in effect from 1987 to mid-2009 covered all Gateway Plaza tenants. The current expiring agreement, negotiated by the Battery Park City Authority and elected officials in 2009, secured rent stabilization through 2020 only for then-current residents.
Tenants who moved in after the date of the 2009 agreement pay market-rate rents and are not covered by the stabilization protections afforded under the agreement. Since the expiring agreement was signed, rents in lower Manhattan have far exceeded the rate of inflation, and these tenants have reported significant annual rent increases that quickly render their homes unaffordable.
GATEWAY TENANTS DEMAND
New rent stabilization agreement that covers
all Gateway Plaza Tenants,
to ensure continuation of a stable community
Term of the new agreement to extend through 2040, when the Gateway Plaza ground lease agreement with Battery Park City Authority expires.
Renewal rent increases in accordance with NYC
Rent Guidelines Board rates,
based upon rent actually paid by the tenant in prior lease.
About Gateway Plaza Tenants Association: The Gateway Plaza Tenants Association was created in 1984 to respond to tenant-related issues at Gateway Plaza, the largest residential complex in Battery Park City. Over the last three decades, GPTA has accomplished a variety of goals, including negotiating long-term rent-stabilization agreements with the landlord, thereby preserving Gateway as a family-friendly residential community for people with diverse incomes.
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