Yesterday, the City Council (by a vote of 31 to 20) approved the modified City of Yes for Housing Opportunity text amendment (COYHO), which aims to combat the housing crisis by making it possible to build a little more...more
12/6/2024
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The New York City Council voted to approve a modified version of the City of Yes for Economic Opportunity (“COYEO”) text amendment, the second in a trio of City of Yes initiatives which aim to: (1) promote sustainability (the...more
It is no secret that New York City continues to face an affordable housing crisis. Many experts believe this boils down to a supply problem, yet others remain skeptical. However, a recent Furman Center publication addressed...more
The City and State of New York have made a handful of announcements regarding plans to roll out imminent changes to the real estate development process to help encourage development and tackle the City’s affordable housing...more
Earlier this month, New York Governor Hochul’s executive budget introduced a proposal for an updated 421-a Real Estate Tax Exemption Program. Referred to as “Affordable Neighborhoods for New Yorkers” and proposed under a...more