search

The Real Deal Logo

Trending

Florida Rock pays $98M for quarry in Miami-Dade CountyFlorida Rock pays $98M for quarry in Miami-Dade CountyH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomMarty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoffLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
New York

421-a compromise reached

Sign Up for the undefined Newsletter

The City Council has reached a new compromise regarding the future of the 421-a tax abatement program. Under the newest proposal, expected to pass through the Council this week, developers in more neighborhoods in Manhattan and Brooklyn will have to include 20 percent affordable housing in their projects in order to qualify for the popular tax break, which is currently easy to obtain. Some council members had been pushing to extend the affordability requirement across the city. more [Metro]