The Real Deal New York

Landmarking hurts affordable housing: REBNY

Costly review process is one factor inhibiting creation of less-expensive apartments, report says
July 01, 2014 10:10AM

The landmarking of historic neighborhoods in the city could inhibit the creation of affordable housing and spur “unforeseen barriers,” according to a new Real Estate Board of New York study.

The Landmarks Preservation Commission has expensive requirements for the development of housing in a historic district, the study said. Between 2003 and 2012, historic districts in Queens, Brooklyn and Staten Island saw no new affordable housing constructed. About 100 of the 35,000 affordable housing units built then were located in landmarked districts.

“The City’s approach to designating historic districts and regulating landmark properties must be taken into account as this [affordable housing] plan is refined,” according to the report cited by the New York Daily News.

Andrew Berman of the Greenwich Village Society for Historic Preservation criticized the report, arguing that claims that affordable housing “is a major contributor to the unaffordability of our city is just laughable.” [NYDN]Mark Maurer