FEMA Plans New Flood Maps for New York City

Federal officials are redrawing the flood maps for New York City for the first time in three decades. The results will have a huge effect on what developers can build.

Federal law requires anyone with a mortgage in the highest-risk areas to get flood insurance. New development within zones at the highest risk of flooding may also need to meet new design standards like the “Waterfront Edge Design Guidelines,” created by New York’s Waterfront Alliance.

The Federal Emergency Management Agency had proposed a new set of maps in 2013, but city officials appealed. Some neighborhoods in the city now regularly suffer with high waters.

“We don’t want to jack up insurance rates and cause a foreclosure crisis, and we want a smoother glide path to a better flood insurance program, and more accurate maps,” said Daniel A. Zarrilli, senior director for climate policy and programs for NYC to the New York Times.

For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson