This week, the New York City Council championed a major housing initiative dubbed the “City of Yes,” a plan backed by Mayor Eric Adams (D).
The ambitious goal? To add 82,000 new homes over the next 15 years, representing one of the most significant moves in recent decades to confront the city’s persistent housing crisis.
Approval and Controversy
However, securing approval for this initiative proved to be a tightrope walk.
The council narrowly passed it with a 31-20 vote, reflecting not only the contentious nature of the issue but also amid turbulence surrounding Mayor Adams, who is currently under investigation by the U.S. Department of Justice for alleged corruption.
In a bid to gain the council’s backing, the initial target of 109,000 housing units was drastically scaled back to 82,000.
The plan prioritizes the construction of multifamily dwellings, with a particular focus on high-rise apartments situated near transit hubs.
Yet, opposition has surfaced from certain communities, especially in Staten Island and Queens, where residents are concerned about the potential disruption to the character of their single-family neighborhoods.
Key Features of the Initiative
Central to the “City of Yes” initiative is a series of zoning modifications aimed at expanding housing availability throughout the city.
Local government officials assert that this strategy is intended to improve housing options for residents and help lower rental prices.
The idea is that if all neighborhoods contribute to the housing supply, the overall increase can be substantial without overwhelming any particular area.
Celebrating the plan’s approval at City Hall, Mayor Adams underscored its importance, flanked by New York Governor Kathy Hochul (D), who committed $1 billion in state funds to support its rollout.
Key elements of the plan include encouraging accessory dwelling units (ADUs) and basement apartments, as well as allowing for taller building constructions than currently permitted.
Moreover, the proposed zoning reforms would do away with mandatory parking space requirements and facilitate the conversion of certain commercial properties into residential apartments.
The Ongoing Housing Crisis
Housing affordability remains a critical concern in New York City.
A January 2024 survey revealed that approximately 4,140 people are currently homeless, the highest figure since 2005.
Additionally, nearly 500,000 residents are spending over 50% of their incomes on rent.
The road to this plan’s enactment was riddled with tension between the City Council and the mayor’s office.
Reports indicate that Mayor Adams was not directly involved in the negotiations leading up to the vote.
City Council Speaker Adrienne Adams, who was notably absent from the post-vote festivities, urged her colleagues to embrace the measure, underlining the urgency of addressing the city’s housing dilemmas.
Source: Housingwire