News & Analysis as of

New York Affordable Housing New Legislation

Cozen O'Connor

New York Note: Q-Team Expansion, New WCB Leadership, NYC ICE Ruling, Rivera Leaving NYCC, Council Legislation

Cozen O'Connor on

NYPD Expands Quality of Life “Q-Teams” to Queens- Mayor Eric Adams and NYPD Commissioner Jessica Tisch announced the expansion of the NYPD’s Quality of Life Division “Q-Teams” across all of Queens. The initiative aims to...more

Alston & Bird

New York State Restricts Institutional Investor Purchases of Residential Real Estate

Alston & Bird on

In an effort to increase housing affordability, New York State has implemented new regulations limiting institutional investor purchases of single- and two-family residences. Our Investment Funds Team breaks down who is...more

Cozen O'Connor

New York Note: NYS Legislative Session Concludes 2025

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The 2025 New York State legislative session has concluded. For the 2025-2026 session, all bills not passed this year will remain live, and session is scheduled to begin again in January. We anticipate that the Governor will...more

Cozen O'Connor

New York Note: Final Mayoral Debate, City Legislation, FARE Act

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Mayoral Candidates Debate as Early Voting Opens - In the final Democratic mayoral debate, Andrew Cuomo and Zohran Mamdani debated over experience and ethics. Cuomo, Mamdani, Brad Lander, Adrienne Adams, Zellnor Myrie, Scott...more

Cozen O'Connor

Broad Street Brief: FY26 Budget Negotiations Entering HOME Stretch

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FY26 Budget Negotiations Entering HOME Stretch - Thursday marks the final opportunity for the City Council to advance bills—including those tied to Mayor Cherelle Parker’s $6.7 billion proposed budget and Housing...more

Cozen O'Connor

City Council Approves Atlantic Avenue Mixed Use Plan

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On May 28, 2025, the New York City Council approved the city-led Atlantic Avenue Mixed Use Plan (AAMUP, pronounced "aim up"), rezoning a low-density industrial stretch of Atlantic Avenue and surrounding blocks in Brooklyn’s...more

Akerman LLP

City of Yes Updates: HPD's New Universal Affordability Preference (UAP) Application Now Available

Akerman LLP on

The New York City Department of Housing Preservation and Development (HPD) released the City's new Universal Affordability Preference (UAP) Application. The program requirements and process for the new UAP program are very...more

Cozen O'Connor

New York Note: NYS FY26 Budget and Client Spotlight

Cozen O'Connor on

New York State legislators passed the $254B Fiscal Year 2026 state budget, reflecting an increase of $17B from FY25. The FY26 budget included inflation refund checks (up to $200 for individuals and $400 for families), an...more

Cozen O'Connor

Policy Alert: New York State Passes FY26 Budget

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Yesterday, state lawmakers passed the $254B FY26 state budget, reflecting an increase of $17B from FY25. The budget was passed over five weeks after the deadline of April 1, and will be retroactively in effect from April 1,...more

Cozen O'Connor

Major Long Island City Rezoning Enters Public Review

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On April 21, 2025, the New York City Planning Commission (CPC) certified the city-led Long Island City Neighborhood Plan, known as OneLIC, into public review. OneLIC seeks to build on Long Island City’s status as one of...more

Cole Schotz

Fair Chance for Housing Act: What NYC Housing Providers Need to Know

Cole Schotz on

Effective January 1, 2025, New York City’s Fair Chance for Housing Act became law. The Fair Chance for Housing Act is designed to eliminate barriers for individuals with criminal conviction histories seeking housing. The...more

Cozen O'Connor

New York Note: State of the City, New Legislative Session, Council Hearing

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In his 2025 State of the City address, Mayor Eric Adams detailed his administration’s efforts to create a safer, more equitable, and family-centered New York City. He noted achievements like reducing crime, expanding...more

Sheppard Mullin Richter & Hampton LLP

City Council says Yes to the City of Yes for Housing Opportunity

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

Cozen O'Connor

New York Note: Adams Indictment, City of Yes, City Legislation, Trailblazers in Real Estate

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Adams Pleads Not Guilty to Five Felony Charges- On Friday afternoon, Eric Adams pleaded not guilty to five felony counts, including bribery and fraud. Adams has been accused of receiving over $100K in illegal gifts and...more

Cozen O'Connor

New York Note – Nonprofits, City Legislation, Rent Guidelines Board

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Mayor Adams has appointed a new Executive Director of the Mayor’s Office of Nonprofit Services, Johnny Celestin. Celestin most recently served as Deputy Director for the Mayor’s Office of Minority- and Women-Owned Business...more

Cozen O'Connor

NYS Legislative Session Concludes

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The 2024 New York State legislative session has concluded. The end of the session was largely overshadowed by Governor Hochul’s directive to the Metropolitan Transit Authority (MTA) to halt the implementation of congestion...more

Cozen O'Connor

New York Note – City Legislation, City of Yes, End of State Session

Cozen O'Connor on

Last Thursday, the NYC Council convened a Stated meeting, where they passed and introduced multiple pieces of legislation. The Council passed a legislative package improving the safety of parking garages and building...more

Cozen O'Connor

New York Note – City Legislation, DASNY President, Willets Point

Cozen O'Connor on

Last Thursday, the NYC Council convened a Stated meeting, where they passed and introduced multiple pieces of legislation. The Council passed legislation prohibiting provisions in employment agreements that shorten the period...more

Cozen O'Connor

New York Note – City Legislation, Redistricting, Willets Point, State Legislation

Cozen O'Connor on

Last Wednesday, the NYC Council convened their final Stated meeting of the year, where they passed and introduced multiple pieces of legislation. The Council passed several policing and criminal justice bills, including a ban...more

Sheppard Mullin Richter & Hampton LLP

It’s About Damn Time

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

Sheppard Mullin Richter & Hampton LLP

New York Governor Releases Updated 421-a Program

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

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