Key facts
- Tracey Towers co-op residents face a rent increase exceeding 30%.
- The development is a Mitchell-Lama project with 871 units.
- Residents expressed anger over the rent hike, contrasting it with affordable housing promises.
- The Mamdani administration is overseeing the rent increase.
Residents of Tracey Towers, an 871-unit Mitchell-Lama development in The Bronx, are set to face a rent increase of over 30%. The development serves middle- and moderate-income families. Tenants were informed of the rent hike during a Wednesday meeting. The decision has angered residents who feel it contradicts Mayor Mamdani's administration's promises of affordable housing.