"City of Yes" proposals for 100K new homes include density bonus for below-market units, but affordability level unclear. Info session tomorrow.
Mayor Adams Launches Historic Effort to Build "A Little More Housing in Every Neighborhood," the city announced 9/21/23. Translation: a potential 100,000 more homes over 15 years, or 6,667 a year. The “City of Yes for Housing Opportunity” proposal is part of Adams’ “moonshot” goal of delivering 500,000 new homes to New Yorkers over the next decade, given that population and jobs exceeds the supply of residences. The top feature is "Ending Parking Mandates for New Housing," which drives up costs--and helps explain why applicants for spot rezonings propose eliminating a parking requirement. But that proposal may face challenge in certain neighborhoods less connected to public transit. New affordability More crucial for those watching development in the area around Atlantic Yards is the "Universal Affordability Preference," which is a 20% density bonus for all affordable housing--including additions to existing buildings but most likely for new constructi