New York City Council Approves Sweeping 'City of Yes' Housing Reforms

The plan aims to address NYC's housing crisis by enabling 80,000 new units over 15 years, reducing zoning restrictions, and committing $5 billion to affordable housing and infrastructure.

• The City Council passed the 'City of Yes for Housing Opportunity' zoning reform package in a 31-20 vote, marking a significant step to combat NYC's housing shortage.
• The reforms will allow for increased housing density citywide, including accessory dwelling units, reduced parking mandates, and easier office-to-residential conversions.
• The plan is expected to create 80,000 new housing units over 15 years, though this is 20,000 fewer than originally proposed due to concessions made during negotiations.
• City Council Speaker Adrienne Adams secured a $5 billion funding commitment for affordable housing and infrastructure improvements as part of the deal.
• The reforms faced opposition from some suburban districts concerned about density and parking changes, but proponents argue it is a critical move to address skyrocketing rents and low vacancy rates.

5 Articles

New York Post New York Daily News New York Daily News Gothamist Gothamist