High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + New York  + Apartments  | 

Mayor Adams Introduces Zoning Changes to Boost Housing Supply 

New York City Mayor Eric Adams has unveiled a sweeping set of residential zoning changes aimed at addressing the city’s housing shortage and building 100,000 new homes over the next decade.  

These changes include eliminating parking mandates for new housing, incentivizing developers to create affordable units through zoning bonuses, making office-to-residential conversions easier, legalizing accessory dwelling units, allowing three- to five-story buildings near subways, and permitting single-room occupancy (SRO) buildings. The proposals also enable residential development in areas with commercial overlays and allow large campuses to build new housing even if existing buildings don’t comply with current zoning. 

Adams called this the most significant set of zoning changes since the city’s zoning code was passed in 1961, aiming to address housing shortages and rent burdens. These proposals will undergo scoping and environmental review, public meetings, and City Planning Commission review, with the potential for a City Council vote by next fall. 

Connect

Inside The Story

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

New call-to-action
New call-to-action