New York City Mayor Eric Adams recently released a multi-year plan to address New York City’s housing crisis.
The plan seeks to create and preserve affordable housing. It will incentivize the inclusion of permanently affordable and rent stabilized housing in new, multifamily construction projects. The program also encourages new homeownership development in the outer boroughs with new development incentives designed to encourage family-sized homeownership units.
The plan seeks to break down silos among city agencies so more homeless shelter residents are eligible for permanent housing. The mayor also wants to improve conditions in shelters and improve services, help the homeless move into permanent housing faster, and reduce the risk of returning to shelters.
Another part of the plan looks at ways to improve health and safety of New Yorkers through housing including ways to improve code enforcement and reducing lead paint and asthma triggers exposure.
Related Stories
Adaptive Reuse | Mar 30, 2024
Hotel vs. office: Different challenges in commercial to residential conversions
In the midst of a national housing shortage, developers are examining the viability of commercial to residential conversions as a solution to both problems.
Student Housing | Mar 27, 2024
March student housing preleasing in line with last year
Preleasing is still increasing at a historically fast pace, surpassing 61% in February 2024 and marking a 4.5% increase year-over-year.
Adaptive Reuse | Mar 26, 2024
Adaptive Reuse Scorecard released to help developers assess project viability
Lamar Johnson Collaborative announced the debut of the firm’s Adaptive Reuse Scorecard, a proprietary methodology to quickly analyze the viability of converting buildings to other uses.
Green | Mar 25, 2024
Zero-carbon multifamily development designed for transactive energy
Living EmPower House, which is set to be the first zero-carbon, replicable, and equitable multifamily development designed for transactive energy, recently was awarded a $9 million Next EPIC Grant Construction Loan from the State of California.
Adaptive Reuse | Mar 21, 2024
Massachusetts launches program to spur office-to-residential conversions statewide
Massachusetts Gov. Maura Healey recently launched a program to help cities across the state identify underused office buildings that are best suited for residential conversions.
Multifamily Housing | Mar 19, 2024
Jim Chapman Construction Group completes its second college town BTR community
JCCG's 200-unit Cottages at Lexington, in Athens, Ga., is fully leased.
Multifamily Housing | Mar 19, 2024
Two senior housing properties renovated with 608 replacement windows
Renovation of the two properties, with 200 apartments for seniors, was financed through a special public/private arrangement.
MFPRO+ New Projects | Mar 18, 2024
Luxury apartments in New York restore and renovate a century-old residential building
COOKFOX Architects has completed a luxury apartment building at 378 West End Avenue in New York City. The project restored and renovated the original residence built in 1915, while extending a new structure east on West 78th Street.
Multifamily Housing | Mar 18, 2024
YWCA building in Boston’s Back Bay converted into 210 affordable rental apartments
Renovation of YWCA at 140 Clarendon Street will serve 111 previously unhoused families and individuals.
MFPRO+ News | Mar 16, 2024
Multifamily rents stable heading into spring 2024
National asking multifamily rents posted their first increase in over seven months in February. The average U.S. asking rent rose $1 to $1,713 in February 2024, up 0.6% year-over-year.
