About the Council
We are a council consisting of some of the largest real estate industry professionals with the sole purpose of creating affordable real estate projects to tackle the ongoing rising prices of property within New York and New Jersey. Our board members have a combined experience of 70 years within the industry, sales of over 1 billion USD and 300 builds within the tri-state area.
Alarming statistics of real estate in NYC the past 10 years.
79%
Price rise in property value
33%
Homeownership in NYC vs 66% Nation wide
3%
Increase in mortgage prices from 4% to 7%
31%
Of income is used for rent by average citizens
Declining Rates of Homeownership
Issue Overview
The council is made up of some of the largest developers in New York City and New Jersey, working to address the critical issue of skyrocketing housing prices. This trend is leading to a concerning decline in middle-class homeownership, which poses an increasingly severe challenge for future generations.
Key Statistics
The median household income in NYC is $76,000, while single households average $38,000.
To purchase a home in NYC, a combined income of approximately $211,000 is required.
Rents in NYC have risen by an average of 3%, with a staggering 27.5% increase since 2019.he council is composed of some of the largest developers in New York City and New Jersey, united in addressing the pressing issue of soaring housing prices, which are contributing to a significant decline in middle-class homeownership. This trend poses a growing challenge for future generations.
Reason
We conducted several private meetings with developers who have over 30 years of experience and have constructed more than 300 buildings, generating over $1 billion in sales. Our goal was to explore solutions for addressing the issue of high construction costs.
The building process typically involves more than ten different companies, many of which are third-party subcontractors, material resellers, or entities lacking their own equipment. This fragmentation creates challenges, as each of these unaligned companies focuses on maximizing their own profits, making it difficult to reduce overall construction costs.
Alliance
So the ADC has created a solution by creating an alliance with the largest material manufacturers, construction machinery owners and builders with their own team to cut out all the unnecessary third party costs to create affordable real estate.
Foundation companies with their own machinery
Textile manufacturers
Grees NA distributor
GC’s with their own team
Building supply manufacturers
Real estate brokerage owners
All these like-minded, large companies acknowledge the rising prices in real estate and want to offer their experience and influence to give the opportunity to those without sufficient capital the ability to become a property owner.
Solution
Through a collaboration of companies of this scale, ADC successfully executed a strategy that enables public participation in projects offering construction at 30% below market value, reduced build times, and customized strategies to enhance equity gains. Additionally, properties already available from developers within the council will receive an extra discount ranging from 1% to 20%.
We believe a healthy real estate industry should have a healthy rate of homeownerships.
We believe giving back should be a communal responsibility.
We believe that having the right influence requires the right action.
We believe having a place to call a home should be a human right.
At ADC we build, but we build with purpose.
Current Projects
Profile of our council members
