New York City Mayor Eric Adams is expected to cut red tape to make it easier and less costly to build housing projects in the city.
Adams would exempt projects with fewer than 175 units in low-density residential areas and those with fewer than 250 units in commercial, manufacturing, and medium- and high-density residential areas from environmental review. The rules reform could accelerate the project review process by as much as two years and save projects an average of $100,000.
The city analyzed more than 1,000 environmental reviews and found that housing projects under a certain size typically had no negative impact. Big projects will continue to be subject to the current review process, but many sites can support 100-unit projects that together can have an impact on easing the city’s housing crisis.
Adams can reform the review process without action by the city council.
Related Stories
MFPRO+ News | Jun 24, 2024
‘Yes in God’s Backyard’ movement could create more affordable housing
The so-called “Yes in God’s Backyard” (YIGBY) movement, where houses of worship convert their properties to housing, could help alleviate the serious housing crisis affecting many communities around the country.
MFPRO+ News | Jun 20, 2024
National multifamily outlook: Summer 2024
The multifamily sector continues to be strong in 2024, even when a handful of challenges are present. That is according to the Matrix Multifamily National Report for Summer 2024.
Sponsored | MFPRO+ News | Jun 20, 2024
Unlocking the Future: Modernizing Access Control in Multifamily Housing
Explore how advanced access control systems are transforming multifamily housing. Learn about Salto’s DBolt Touch and Homelok platforms, designed to enhance security, streamline operations, and improve resident satisfaction with keyless, mobile-ready solutions.
Multifamily Housing | Jun 17, 2024
Elevating multifamily properties through quiet luxury
As the demands of urban living continue to evolve, the need for a tranquil and refined home environment has never been more pronounced.
Multifamily Housing | Jun 14, 2024
AEC inspections are the key to financially viable office to residential adaptive reuse projects
About a year ago our industry was abuzz with an idea that seemed like a one-shot miracle cure for both the shockingly high rate of office vacancies and the worsening housing shortage. The seemingly simple idea of converting empty office buildings to multifamily residential seemed like an easy and elegant solution. However, in the intervening months we’ve seen only a handful of these conversions, despite near universal enthusiasm for the concept.
Senior Living Design | Jun 13, 2024
Crystal Pacific Windows bring sunshine to senior living community
Crystal Pacific Window & Door Systems, the West Coast production affiliate of national manufacturer Crystal Window & Door Systems, recently supplied over 400 energy efficient vinyl windows for a new affordable housing community in San Diego, Calif.
Affordable Housing | Jun 12, 2024
Studio Libeskind designs 190 affordable housing apartments for seniors
In Brooklyn, New York, the recently opened Atrium at Sumner offers 132,418 sf of affordable housing for seniors. The $132 million project includes 190 apartments—132 of them available to senior households earning below or at 50% of the area median income and 57 units available to formerly homeless seniors.
MFPRO+ News | Jun 11, 2024
Rents rise in multifamily housing for May 2024
Multifamily rents rose for the fourth month in a row, according to the May 2024 National Multifamily Report. Up 0.6% year-over-year, the average U.S. asking rent increased by $6 in May, up to $1,733.
Apartments | Jun 4, 2024
Apartment sizes on the rise after decade-long shrinking trend
The average size of new apartments in the U.S. saw substantial growth in 2023, bouncing back to 916 sf after a steep decline the previous year. That is according to a recent RentCafe market insight report released this month.
Multifamily Housing | Jun 3, 2024
Grassroots groups becoming a force in housing advocacy
A growing movement of grassroots organizing to support new housing construction is having an impact in city halls across the country. Fed up with high housing costs and the commonly hostile reception to new housing proposals, advocacy groups have sprung up in many communities to attend public meetings to speak in support of developments.
