NYC must curb landmarking for affordability’s sake: OPINION

TRD New York /
Sep.September 27, 2013 03:46 PM

New York City should halt the “dizzying proliferation of historic districts” and improve the public-review process for the sake of affordable housing, a Crain’s editorial asserted.

The judgement comes in reaction to the release of a Real Estate Board of New York study on landmarking’s impact on the creation of affordable housing. According to the study, only five new affordable units — out of 8,100 overall — have been created since 2003 in Manhattan neighborhoods where work must align with the Landmark Preservation Commission’s requirements.

“Historic areas tend to be pricier and have less vacant land, but there can be no doubt that the extra expense, paperwork and architectural restrictions imposed by the landmarks commission precludes the construction of affordable housing,” the editorial goes on to say. “Even counting renovations, the number of affordable units developed in landmarked Manhattan buildings was just 119 — none south of 87th Street.”

And while landmarking historical property “has its place,” according to the editorial, it doesn’t help “the hundreds of thousands of New Yorkers who are doubled-up, tripled-up, already homeless or at risk of being so.”

“They need dignified, affordable shelter, not fabrications of vintage cornices, eyebrow dormers and ornamental balusters,” the editorial quipped. [Crain’s]Julie Strickland


Related Articles

arrow_forward_ios
John Banks

High expectations: A look at John Banks’ 4 years at REBNY

High expectations: A look at John Banks’ 4 years at REBNY
John Banks

John Banks to step down as REBNY president

John Banks to step down as REBNY president
REBNY Awards

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Douglas Durst (Getty)

Douglas Durst tapped to be next REBNY chair

Douglas Durst tapped to be next REBNY chair
Ninve James 

REBNY taps Realtor.com exec to lead RLS

REBNY taps Realtor.com exec to lead RLS
REBNY’s James Whelan and New York Attorney General Letitia James (Getty Images; iStock)

Broker-fee ban lawsuit postponed for the third time

Broker-fee ban lawsuit postponed for the third time
From left: Sandhya Espitia, John Canniffe and Jim Whelan (Linkedin, Whelan by Evan Gutierrez)

REBNY’s RLS chief bows out

REBNY’s RLS chief bows out
Clockwise:  CBRE's Michael Remer, Richard Hodos and Joel Stephen with the Wizarding World Building at 935 Broadway (Images via CBRE)

CBRE’s Hodos and other Muggles win REBNY award for Harry Potter deal

CBRE’s Hodos and other Muggles win REBNY award for Harry Potter deal
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...