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New Legislation City of New York Affordable Housing

Sheppard Mullin Richter & Hampton LLP

City Council Approves City of Yes for Economic Opportunity, with Modifications

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

Sheppard Mullin Richter & Hampton LLP

Mixed-Income Market Initiative: NYC’s Attempt to Spur Affordable Housing Development

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

Harris Beach PLLC

Tax Abatement Replaces J-51 Program to Promote Affordable Housing Improvements in New York City

Harris Beach PLLC on

Governor Kathy Hochul recently signed legislation authorizing a new tax abatement to promote improvements to affordable housing in New York City. In June 2023, lawmakers in New York State passed the Affordable Housing...more

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