City sees record year for inclusionary housing units, residential permit approvals Death of 421-a could put a damper on both
Before it was mandatory, New York City s inclusionary housing program created and preserved a record number of affordable housing units, according to a new report.
Developers last year committed to creating, preserving or rehabilitating more than 3,000 affordable units — three times the number seen in 2014, according to New York University Furman Center s annual citywide housing report. The 3,000-plus units created in 2016 is also twice as many units created in any year since the program s creation in 1987.
In March, the City Council approved Mayor Bill de Blasio s mandatory inclusionary housing program, which requires developers who have received a residential rezoning to include a certain number of affordable units in their projects. It also mandates affordable housing construction in districts that have been rezoned, such as East New York.
In January, the mayor announced that the city through a slew of programs financed 7,179 new afforda上海千花网龙凤论坛 ble apartments and preserved another 13,862 in 2015. Though the mayor touted the passage of MIH as a victory for his housing goal – to create and preserve 200,000 affordable units over the next decade — the program was larg上海千花网龙凤论坛 ely overshadowed by the expiration of 421a. Developers and city officials have said that the absence of the property tax abatement will discourage the creation of rentals and affor[……]