I support making Gateway Plaza rent stabilized for all residents.  For the past ten years, rents in lower Manhattan have far exceeding the rate of inflation and many residents are feeling the pressure and we need support.  

Gateway Plaza was completed in 1981 as the first residential building in Battery Park City and was originally built as affordable housing.  In exchange, Gateway Plaza was given a substantial discount on its ground lease payments.  In 2009, the Battery Park City Authority and our elected officials were successful in securing rent stabilization through 2020 for tenants that were already living in the complex. Tenants who moved in after that did so at market-rate rents and without protections afforded under the 2009 agreement.   These market rate tenants have reported significant annual rent increases since 2009 that prevent them from staying.

The current trend is unsustainable for many residents of New York City.  Residents are seeking rent stabilization for ALL Gateway residents, not just those covered previously, which is consistent with past practices.  

I sign this petition in support of Rent Stabilization for all Gateway Plaza residents.