The price of being the king of affordable housing – CRAIN’S

Posted by on Sep 14, 2017 in WORK | No Comments

Ron Moelis sits atop the city’s affordable-housing industry. But his prowess—and his connections to Deputy Mayor Alicia Glen—made him a top target
By Rosa Goldensohn

A busload of protesters from Brooklyn and the Bronx marched up a quiet Greenwich, Conn., road in June 2016 toward a sprawling white colonial house owned by the city’s largest affordable-housing developer. Unfurled in front of them was a black banner on which was written, with no hint of irony, “Ron Moelis = Gentrification King.”

Nearly a year later, the protesters gathered at City Hall to accuse Deputy Mayor Alicia Glen of exacerbating the affordable-housing crisis—the very problem that the former Goldman Sachs managing director was hired to address.

Moelis and Glen have become targets because the activists believe their approach—and close working relationship—is not serving the New Yorkers most in need. Glen’s appointed task is to execute Mayor Bill de Blasio’s 10-year, $41 billion plan to create or preserve 200,000 affordable apartments.