New York City recently passed the “City of Yes for Housing Opportunity,” a landmark zoning reform aimed at alleviating the city’s housing crisis. The plan, supported by Governor Hochul and Mayor Adams, will create approximately 80,000 new housing units over 15 years through various zoning changes and a combined $5 billion investment, including $1 billion from the state. This initiative includes measures to increase affordability, legalize accessory dwelling units, and reduce parking mandates. The reforms follow extensive public review and represent a significant effort to address the city’s long-standing housing shortage. Read the story here
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