City papers weigh in on de Blasio’s real estate moves

Seven months into his term, Mayor Bill de Blasio’s influence on the real estate industry is already significant.

And the mayor’s policies on housing and development are generating strong opinions not only from those in the industry, but also from the city’s big newspapers.

New York’s news organizations have taken stands on the mayor’s plans for landmarking, affordable housing and rezoning, in addition to the Rent Guidelines Board’s heavily covered 1 percent rent hike.

So far, the trend appears to be skepticism on issues like affordable housing and the Rent Guidelines Board rent-hike vote. There have also been supportive words, particularly for the mayor’s cautious efforts in re-launching efforts to rezone Midtown East.

Here’s what the editorial boards had to say about de Blasio’s real estate-related moves during his first few months in office.

New York Post

“It’s hard to see how the mayor is going to make good on his promise to create 80,000 new affordable units if he continues to wall off areas to new building by landmarking them.

Almost by definition, landmark preservation most benefits the people who already have places to live, who do not want their neighborhoods changed and who can afford the higher costs preservation imposes on a community.

Landmarking has an important role in this city …

But New Yorkers have to live somewhere, too, and in this city we are already paying some of the highest rents in America. What we need is accommodation, not ideology.”

Wall Street Journal

“A better ZIP Code is the result, not the precursor, to a better life. Getting a low-cost unit in perpetuity — Mr. de Blasio makes a virtue of “permanent affordability” — undermines incentive to capitalize on new opportunities that might require a move.

New York’s so-called inclusionary zoning, requiring a set-aside of low-price units in higher-priced buildings, also risks making housing prices higher overall.

It makes far more sense to increase the likelihood that poor neighborhoods can be good neighborhoods. That means better public safety, transit, parks and schools — all traditional responsibilities of government.

The way to increase the [city’s housing] stock is to allow developers to build a wide range of housing for all income groups, with a minimum of regulatory barriers.”

New York Times

“Mayor Michael Bloomberg tried last fall to push through a grand rezoning plan for East Midtown that would have brought many more office towers and a flood of workers to a 73-block area around Grand Central Terminal.

Mayor Bill de Blasio is right to have revived the plan, putting part of it on a fast track and the rest on a proper trajectory, with a thorough, “ground-up” review that recognizes the need to polish that gem of a business district, but to do it wisely.

The larger rezoning is expected to take several years, as it should.

A new task force … should be well poised to think this through.”

New York Daily News

“Just hours before the [Rent Guidelines Board] was to vote … the mayor announced he had looked at the economic data it was supposed to consider and determined the panel should vote for a zero on one-year renewals.

To support his crowd-pleasing conclusion, de Blasio relied on cherry-picked economic data, in effect discarding the formula the board had used under previous administrations.

In particular, the mayor willfully ignored a price index the board has historically relied on in setting rents, which tracks trends for such expenses as real-estate taxes and heating fuel — both of which jumped some 5 percent over the past year.”

Tenants, many of whom are voters, got a break that will surely be appreciated. But if that’s to be the sole deciding factor from here on out, the toll on New York’s limited stock of decent affordable housing will eventually be severe.”