Promoting 'Micro' Apartments Is New York City's Mayor

Launch of a tender for the construction of micro-apartments in the Big Apple was done by New York City Mayor Michael Bloomberg, where rents are exorbitant and the number of singles is on the rise.

Launch of a tender for the construction of "micro-apartments" in the Big Apple was done by New York City Mayor Michael Bloomberg, where rents are exorbitant and the number of singles is on the rise.

A pilot project slated for construction in Manhattan's Kips Bay section will feature rental apartments ranging from 275 to 300 square feet (26-28 square meters) with kitchens and bathrooms, the mayor's office said in a statement.

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Bloomberg explained it was "critical to the city's continued growth, future competitiveness and long-term economic success" to develop "housing that matches how New Yorkers live."

"People from all over the world want to live in New York City, and we must develop a new, scalable housing model that is safe, affordable and innovative to meet their needs."

The project is slated to respond to the changing demographics of a city where 1.8 million households are composed of one or two people, but there are only one million studios and one-room apartments, the mayor's office said.

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Current standards in New York require that most new apartments be at least 400 square feet.

But rental costs in the Big Apple are increasingly expensive.

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In Manhattan, a studio costs an average $2,243 per month in May in a building without a concierge, up 7.9 percent from the previous year, and $2,657 in a building with a concierge, up 4.4 percent, according to the Manhattan Rental Market Report.

A one-room apartment can cost about $2,959 without a concierge, up 6.2 percent from 2011, and $3,777 with a concierge, up 6.8 percent in a year.

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Source-AFP

Promoting 'micro' Apartments Is New York City's Mayor

Launch of a tender for the construction of micro-apartments in the Big Apple was done by New York City Mayor Michael Bloomberg, where rents are exorbitant and the number of singles is on the rise.