On November 21, 2024, the Zoning and Franchises Subcommittee (by a vote of 4-3) and Land Use Committee (by a vote of 8-2 and one abstention) approved the City of Yes for Housing Opportunity text amendment (COYHO), with...more
The New York City Council voted to approve a modified version of the City of Yes for Economic Opportunity (“COYEO”) text amendment, the second in a trio of City of Yes initiatives which aim to: (1) promote sustainability (the...more
It is no secret that New York City continues to face an affordable housing crisis. Many experts believe this boils down to a supply problem, yet others remain skeptical. However, a recent Furman Center publication addressed...more
On February 23, 2023, the Committee on Housing and Buildings at the New York City Council held a hearing on four local laws and three resolutions, all of which, if passed, would have vast impacts on residential housing...more
The City and State of New York have made a handful of announcements regarding plans to roll out imminent changes to the real estate development process to help encourage development and tackle the City’s affordable housing...more
Earlier this month, New York Governor Hochul’s executive budget introduced a proposal for an updated 421-a Real Estate Tax Exemption Program. Referred to as “Affordable Neighborhoods for New Yorkers” and proposed under a...more
The New York City Council, under Speaker Corey Johnson, announced this week the release of a proposal for “A New Comprehensive Planning Framework for New York City,” to support equitable, inclusive growth, and citing the...more