City Council votes to approve mandatory inclusionary housing

Plan mandates affordable housing construction for rezoned districts, individual property upzonings

TRD New York /
Mar.March 22, 2016 04:12 PM

The City Council on Tuesday voted overwhelmingly to approve Mayor Bill de Blasio’s mandatory inclusionary housing program.

“You demanded the strongest affordable housing requirements in the nation,” de Blasio tweeted Tuesday. “Working with @NYCCouncil, that’s what we delivered.”

The plan, which received 42 votes for and five against, requires developers who have received a residential rezoning to set aside a certain number of units for below-market rate rents. The legislation will also mandate affordable housing construction in areas that undergo district-wide rezoning, with East New York the first such area likely to be impacted by the law.

Its passage was praised by the New York State Association for Affordable Housing, which represents affordable housing developers, as well as the Brooklyn Chamber of Commerce.

Other developers, however, have said that without 421a or a similar affordable housing incentive in place, the plan will have little impact.

The Council also approved Zoning for Quality and Affordability, which seeks to raise building heights and relax parking requirements for certain projects in an effort to spur the construction of more affordable housing. That proposal passed 40-6. — Hiten Samtani 


Related Articles

arrow_forward_ios

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

When Bill de Blasio announced the end of his campaign, the industry reacted largely with relief but not surprise (Credit: Getty Images and Pixabay)

De Blasio’s campaign is dead, and real estate is happy

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

Gary Barnett says luxury market is crowded, WeWork IPO woes continue: Daily Digest

Developer seeks $40M for Opportunity Zone site in downtown Newark

The blackout impacted a 42-block stretch of Manhattan between the Hudson River and Fifth Avenue (Credit: Getty Images)

Con Ed still searching for answers in Manhattan blackout

arrow_forward_ios