Adams Considering Cutting Regulations To Spur More Affordable Housing

Bisnow/Miriam Hall

Mayor Eric Adams' administration, faced with a dire citywide housing shortage and a major slowdown in affordable production, is considering removing the environmental study requirement in rezoning applications to try to speed up construction.

These kinds of studies go with almost all applications for changes in land use and examine the kinds of impacts a new project would have on an area. But Adams is now considering allowing developments of 200 units or fewer to skip that step, Politico reported, citing two anonymous city officials.

The reviews look at issues like school enrollments, traffic impacts and access to light. The officials told Politico that Adams wouldn't need to have the procedure change approved by the city council, and if it were to go ahead, it would speed up the process for a significant number of developments.

“The statistics that underline today’s housing crisis — they’re chronic, they’re acute, they haven’t budged,” Deputy Mayor for Economic and Workforce Development Maria Torres-Springer, who oversees the Department of City Planning, told Politico. “Our goal here is to identify the criteria, the threshold that we should be using so that projects that hit that criteria don’t have to go through the lengthy, Byzantine, almost Kafka-esque process of environmental review that they have to go through today.”

The housing shortage is under even greater scrutiny than usual, with rents in the city soaring over the past year. The net effective median rental price in Manhattan was $3,982 in September, per data from appraisal firm Miller Samuel, a nearly 24% increase from last year. Plus, the Department of Housing Preservation and Development financed the creation and preservation of 16,042 units in the fiscal year beginning July 1, 2021 — a 45% drop from the previous 12 months, according to the Mayor’s Management Report.

The Real Estate Board Of New York has estimated the city needs 560,000 new units by 2030 to keep up with its predicted population and job growth.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Supertall Assemblage Comes Together At Long-Vacant Midtown Site: The N.Y. Deal Sheet

Suburban D.C. County Weighs Microhousing As Affordability Salve

Fannie Mae, Freddie Mac Rewrite Underwriting Standards For NYC's Rent Freeze

RealPage Antitrust Case Ends With Nearly $360M In Settlements For Renters

ZOM Living Entity Files For Bankruptcy To Fund Fight To Overturn $323M Judgment

Golden Apartment Building Sells For $62M To Chicago Company

Banks Are Manhattan's Latest Hot Retail Tenant

New Student Housing Towers Lease Up Quickly In University City, But Developers Can't Build More

Nord Group's Lawyer Moves To Quit, Says Entities Can't Pay Him

Housing Completions Close To 40,000 As LDA Adds Major Site And CEO Departs

Voorhees Greenlights 178-Unit Office-To-Resi Conversion Amid Multifamily Boom

Battered Mortgage REIT Suspends Dividend To Preserve Cash