We have previously written about proposed changes to zoning regulations in New York City that are intended to spur the production of affordable housing; these changes are officially known as the "City of Yes for Housing Opportunity Text Amendment" but everyone in the know simply calls them "City of Yes". We can now bring you the latest update on this.
Last week, the City Planning Commission (CPC) approved the nearly 1,400-page text amendment, which would, among other things, eliminate accessory parking mandates citywide, allow an increase in buildable floor area in exchange for the provision of onsite, income-restricted apartments for 20 percent of the building (known as Universal Affordability Preference or UAP), and create the concept of Ancillary Dwelling Units (ADU) to facilitate the development of more small apartments in suburban parts of the city.
That CPC approved City of Yes was unsurprising; CPC is comprised of planning and land use professionals who were appointed to steward the city's growth and development in the long term. But their buy-in is not enough to make City of Yes the law. The City Council--51 elected officials who are up for re-election every two years, including in 2025--must also approve the proposal. The council members are as different as the districts they serve, and each will be looking to modify City of Yes to serve their constituents - and their re-election campaigns. Here is a summary of what to watch for as the council members begin their negotiations:
Approval of City of Yes could be a watershed moment in the city's fight to make more housing available to more New Yorkers, but only if the City Council does not hollow it out.
Look for further communications from us on this topic. The fate of City of Yes should be known before all the leaves are off the trees in Central Park.
[View source.]