Sen. Zellnor Myrie wants to create or preserve 1 million homes over the next 10 years. Can he do it?
Myrie made his run for New York City mayor official on Tuesday with the release of a housing plan that calls for building 700,000 units and preserving 300,000 during the next decade. To do this, Myrie would, among other things, rezone a larger swath of Midtown than proposed by the Adams administration — dubbed “Mega Midtown” — and build on underutilized property throughout the city.
The numbers include projects that have already been proposed, as well as the estimated 200,000 apartments that would be built anyway (based on the pace of construction over the past decade).
Two years ago, Mayor Eric Adams unveiled his “moonshot” goal of building 500,000 apartments over the next decade. This week, the City Council is expected to vote on the City of Yes for Housing Opportunity, which is projected to add 80,000 apartments during the next 15 years.
Myrie supports City of Yes, but thinks it doesn’t go far enough.
“It is a small step, and it is one that is not big enough to meet the problem of the moment,” he said.
This “small step,” billed as both modest and historic by the Adams administration, faced considerable pushback from City Council members. The text amendment underwent several changes before the Council advanced it last month, and the administration agreed to a $5 billion funding package as a condition of approval.
If that’s what it takes for “modest” zoning changes, how can the next mayor hope to go much bolder?
Myrie said he will take the time to build relationships with Council members and work with stakeholders and those with varying interests, rather than “antagonize them.”
“I’m under no illusions that this is going to be easy, but it is the necessary fight that we must wage if we’re going to solve the affordability crisis and our housing scarcity problem,” he said.
“I am centering this housing plan in my launch for mayor of this city, because when we win, there will be a mandate that we accomplish this housing plan, and that mandate, that momentum from New York City voters, is what is going to help push this over the finish line.”
Each component of Myrie’s plan, first reported by Politico, will contribute 50,000 to 95,000 new units. However, it lacks specifics on how it would be executed. For instance, the proposal to build on underutilized land points to projects that have already been proposed, including the City Council Speaker Adrienne Adams’ call to redevelop the 200-acre Aqueduct Racetrack in Queens and the city’s plan to modernize and build up the Brooklyn Marine Terminal.
Both of those plans include housing, though details have not been released on how much.
Myrie indicated that he would “solicit ideas from the public” on other land that could be transformed into mixed-income, mixed-use neighborhoods. The Adams and de Blasio administrations also targeted vacant or underutilized land for potential housing development, but found that opportunities are limited.
The plan does, however, point to areas between Queensbridge and Ravenswood in Western Queens, and between South Williamsburg and Bed-Stuy in Brooklyn, as contenders for “sandwich rezonings,” which target industrial areas squeezed by “thriving residential neighborhoods.”
Annemarie Gray, executive director of pro-housing group Open New York, said it was “heartening” that candidates are campaigning on “bold plans” for more housing.
“Four years ago it would have been inconceivable for a major candidate for mayor of New York City to propose a housing plan this ambitious,” she said in a statement.
As a state senator, Myrie was one of the most vocal supporters of the 2019 rent law, and championed another priority of the Democratic Socialists of America, the Tenant Opportunity to Purchase Act, which would give tenants the first shot to buy their building if the owner tries to sell it.
His mayoral housing plan calls on the state to allow “organically vacant units” — with rents too low to justify renovations — to rent them to voucher holders (whose rent is based on a percentage of their income), so long as the building’s tenants or a nonprofit are given right of first refusal to buy the building.
Cea Weaver, Housing Justice for All campaign coordinator, said that proposal “threatens to undermine New York’s stabilization system.”
“Seventy percent of New Yorkers rent — and our demand is clear: if you want our votes, freeze the rent. Senator Myrie was once a champion for rent-stabilized tenants,” she said in a statement. “We hope to see him return to his roots and commit to a rent freeze.”
Assembly member Zohran Mamdani, who is also running for mayor, has pledged to freeze rents, though only the city’s Rent Guidelines Board can do that. Myrie said he would appoint board members who “put renters first.”
What we’re thinking about: Know of any industry holiday parties where reporters are welcome? Send invites to kathryn@therealdeal.com.
A thing we’ve learned: On Thursday, the City Council will vote on a bill that requires the Department of Housing Preservation and Development to submit reports every six months on the status of housing projects that involve city-owned land (that has been leased, sold or transferred to another party) and receive city financing.
City Council member Rafael Salamanca, the sponsor, has repeatedly lamented that projects approved through the Uniform Land Use Review Procedure often wait a long time to close on site acquisitions or financing. The measure is aimed at increasing transparency.
Elsewhere in New York…
— Jersey City tenants are accusing their landlord’s employees of stocking vacant apartments with rotting fish to drive them out and raise the rents, Gothamist reports. Residents of 336 New York Avenue claim the fish are part of a campaign to kick them out of rent-controlled units.
— Professional boxer Anthony Constantino wants to replace Rep. Elise Stefanik, whom Trump tapped to be ambassador to the United Nations, Politico New York reports. Stefanik’s departure would trigger a special election. Constantino hopes to parlay a 100-foot, light-up sign he installed in upstate New York, which reads “Vote for Trump,” into support from fellow Republicans.
— Mayor Eric Adams has requested a meeting with President-elect Donald Trump’s “border czar” Tom Homan, WABC reports. “I don’t want people talking at each other. I want people to talk to each other,” Adams said during a press conference Tuesday. “I made it clear that I’m not going to be warring with this administration. I’m going to be working with this administration.” Adams has been critical of the Biden administration’s immigration policies.
Closing Time
Residential: The priciest residential sale Tuesday was $47 million for a 6,933-square-foot condo unit at 500 West 18th Street in Chelsea. Deborah Kern and Steve Gold of the Corcoran Group had the listing.
Commercial: The largest commercial sale of the day was $48 million for 300 West 43rd Street and 303 West 42nd Street in Chelsea. The sales include the office and retail portions for both properties. Their combined size is 107,342 square feet.
New to the Market: The highest price for a residential property hitting the market was $15.2 million for a 4,962-square-foot condo unit at 211 West 84th Street on the Upper West Side. Alexa Lambert of Compass has the listing.
Breaking Ground: The largest new building application filed was for a 156,632-square-foot, eight-story, 210-unit project at 35 Otsego Street in Red Hook. Aufgang Architects filed the permits on behalf of Express Builders. — Matthew Elo