New York officials credit a first-quarter surge in residential unit permits in the first quarter to a property tax-break program for developers.
Along with a strong economy, the Affordable New York initiative helped triple New York City’s residential permits compared with the same period in 2016. The permits account for 6,343 units, which is the largest number since 2007.
The tax break was included in April's state budget, but Gov. Andrew Cuomo announced in January that the benefits would be retroactive to the beginning of 2017. The Affordable New York initiative is the successor to the 421-a tax credit program.
The new initiative applies to certain areas of the city, and sets minimum wage levels for qualifying projects. It offers tax breaks to developers who build projects of 300 units or more in certain areas of Manhattan, Brooklyn, and Queens.
Related Stories
| Feb 26, 2013
ANSI standard for interior doors open for second public ballot
WDMA I.S.6A-11, Industry Standard for Interior Architectural Wood Stile and Rail Doors and WDMA I.S.1A-11, Industry Standard for Interior Architectural Wood Flush Doors, are now open for their second ballot for recognition as American National Standards.
| Feb 26, 2013
CRSI releases new technical note on stainless steel reinforcing bars
The Concrete Reinforcing Steel Institute (CRSI) has released a new technical note, Frequently Asked Questions (FAQ) about Stainless Steel Reinforcing Bars, to its online collection.
| Feb 26, 2013
Proposed ASHRAE standard revisions would boost requirement for automatic lighting
Proposed changes to the ASHRAE/IES energy standard would require automatic lighting controls in more space types and shorten the times before lighting is automatically reduced or shut off.
| Feb 20, 2013
Bill would make all California state building codes free and open source
California Assembly Bill 292 would make the California Code of Regulations (including the Building Codes) open source.
| Feb 20, 2013
Pittsburgh’s Phipps Conservatory aims for three top green certifications
The $15 million Center for Sustainable Landscapes at Phipps Conservatory and Botanical Gardens in Pittsburgh, a net-zero facility, is applying for certification from three of the world's most stringent green rating systems—the Living Building Challenge, LEED Platinum, and the Sustainable Sites Initiative.
| Feb 20, 2013
ANSI/CRRC Cool Roof Standard has been approved
The Cool Roof Rating Council says the American National Standards Institute has given final approval of its ANSI/CRRC-1-2012 Standard after a two-year public review process.
| Feb 20, 2013
Group of West Coast civil engineers developing building standards for tsunamis
A group of civil engineers from around the western U.S. is developing additions to the building code to address the threat of a tsunami.
| Feb 20, 2013
Higher standards, efficiency programs keys to 40% energy usage reduction in commercial buildings since 1980
Commercial buildings have seen a drop in their energy intensity of more than 40% since 1980, according to a recent report from Bloomberg New Energy Finance and the Business Council for Sustainable Energy.
| Feb 12, 2013
Higher education institutions providing leadership on sustainability
More than 665 U.S. colleges and universities have publicly committed to pursue net-zero carbon emissions.
| Feb 12, 2013
ASHRAE publishes protocols for performance measurement
ASHRAE has published “Performance Measurement Procedures for Commercial Buildings: Best Practices Guide,” a how-to guide for continuously evaluating and improving the performance of commercial buildings throughout their service life.