What de Blasio told builders behind closed doors

Affordable housing plan hinges on developers "building aggressively"

New York /
Feb.February 21, 2014 12:08 PM

Now we know why developers who attended a closed-door meeting with Mayor Bill de Blasio earlier this week seemed encouraged by what they heard.

It seems the mayor’s ambitious plan to put 200,000 units of affordable housing on the market is going to require some equally ambitious builders. Indeed, de Blasio told the gathering he wants New York City developers to erect the biggest buildings possible, and fast, according to the New York Daily News.

“I hope people hear me loud and clear that the only way I can achieve my goals is if we are building and building aggressively,” he told developers in opening remarks to the Real Estate Board of New York, according the Daily News.

De Blasio’s speech was a reiteration of his campaign promise to allow developers to build bigger as long as they reserve a portion of the building for affordable housing, a policy known as “mandatory inclusionary zoning.” Developers and investors have been wringing their hands lately over the future of the initiative.

Stephen Ross of the Related Companies, Stephen Green of SL Green Realty and Robert Knakal of Massey Knakal Realty were in attendance. [NYDN]  Angela Hunt


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)
SL Green puts Daily News building up for sale
SL Green puts Daily News building up for sale
Related CEO Jeff Blau and 455 Tenth Avenue (Chris Martin, Google Maps, iStock)
Related launches lodging for executives’ hybrid work
Related launches lodging for executives’ hybrid work
1552-1560 Broadway and Wharton Properties’ Jeff Sutton (Google Maps)
Investor claims Jeff Sutton cheated him out of millions on Times Square deal
Investor claims Jeff Sutton cheated him out of millions on Times Square deal
More and more homebuyers and investors are coming to the negotiating table with cash in hand. (iStock)
In cities, “starter homes” getting more difficult to find
In cities, “starter homes” getting more difficult to find
Related's Stephen Ross, the Gregory Hotel at 42 West 35th Street and Meadow Partners’ Jeffrey Kaplan (Getty, Google Maps, Meadow Partners)
Related sues Meadow after foreclosure on Garment District hotel
Related sues Meadow after foreclosure on Garment District hotel
Mayor Bill de Blasio (Getty, iStock)
De Blasio’s post-mayoral home has been a 4-star Brooklyn hotel
De Blasio’s post-mayoral home has been a 4-star Brooklyn hotel
arrow_forward_ios

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

Loading...