They rent them out, so likely had a contractor do the conversion and then woth the rental income cancels out the cost. “No cost” is also just what that post used, doubt official documents say no cost.
False@lemmy.world 2 days ago
How does converting an office building have zero cost?
Jump365@lemmy.zip 2 days ago
Impractical_Island@lemmy.world 19 hours ago
Everything has a cost, even if it’s tickling pandas
jj4211@lemmy.world 2 days ago
nyc.gov/…/mamdani-administration-advances-plan-to…
Following a competitive request for proposals process, the city selected GFP Real Estate to develop the site.
Note it said only 1,000 affordable residences, but 4,000 overall. A real estate company is happy to cover the cost and cede 1,000 units to affordable terms in exchange for 3,000 residences at market rate.
GreyEyedGhost@piefed.ca 1 day ago
It seems like a significant cost is in reading the whole sentence.
knatschus@discuss.tchncs.de 2 days ago
No cost to the city as explained in comments written long before yours in this thread