The City Council released comprehensive package of reforms designed to tackle various parts of the city's housing affordability crisis.
The City Council on Friday released comprehensive package of reforms designed to tackle various parts of the city’s housing affordability crisis as its response to Mayor Eric Adams’ City of Yes zoning proposal aimed at loosening restrictions around residential development.as a way to address areas of the Big Apple’s housing shortage they feel are left untouched by the mayor’s plan.
The council’s plan would require developers to build more deeply affordable units in new housing projects, boost funding for the city’s homeownership assistance programs, put more dollars toward improving infrastructure in neighborhoods that will see new construction under City of Yes and strengthen tenant protection programs.
“During last week’s hearings, we heard from New Yorkers on all sides, and their concerns shaped this approach,” Council Member Kevin Riley , chair of the body’s Zoning Subcommittee, said in a statement. “Focusing on true opportunities for affordable homeownership, investing in critical infrastructure like sewage systems to support sustainable growth, and ensuring deep affordability are crucial steps.
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