On March 20, 2024, the City Planning Commission voted to approve the Green Fast Track for Housing rule, a new rule to reduce the cost and time to approve certain modest and eco-friendly buildings by exempting them from review under the State Environmental Quality Review or City Environmental Quality Review laws. State law permits city agencies to have the authority to propose new rules that can allow certain projects to undergo a more streamlined process.
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City Launches $50 Million Initiative for Minority-Business Enterprise Developers to Work on Affordable Housing
On March 4, 2024, New York City Mayor Eric Adams, the New York City Housing Preservation Development (HPD) Commissioner Adolfo Carrión Jr., and New York City Housing Development Corporation (HDC) President Eric Enderlin announced an initiative to provide up to $50 million to help Minority Business Enterprises (MBE) overcome financial barriers and participate in developing much needed affordable housing for New Yorkers. The “New York City Minority Business Enterprise Guaranty Facility” is established in partnership … <Read More>
City Planning Commission Votes to Approve City of Yes for Economic Opportunity Amendment
On March 6, 2024, the City Planning Commission voted to approve the City of Yes for Economic Opportunity zoning text amendment. The amendment, the second of Mayor Eric Adams’ three City of Yes proposals, is a collection of eighteen changes to the zoning text designed to remove obstacles for small businesses looking to expand and create more vibrant streetscapes.
DOT, DEP, and DDC Finish $4.7 Million Infrastructure and Sidewalk Renovation Project in Westerleigh, Staten Island
On February 27, 2024, the NYC Department of Environmental Protection (DEP), NYC Department of Transportation (DOT), and NYC Department of Design and Construction (DDC) announced the completion of an infrastructure project in Westerleigh, Staten Island. The project upgraded water mains and sanitary sewers, added new storm sewers and improved roads and sidewalks. The entire project cost the City $4.7 million which was $1 million less than predicted and the project was finished on time.
Updated: “How Doomed is the Loop?”: Discussion on Remote Work Impact on City’s Financial Health
How “doomed” is New York City due to the prevalence of remote work and its impact on commercial real estate values? Experts discussed the city’s fiscal outlook during a recent panel discussion, “How Doomed is the Loop?,” hosted by the Center for New York City Law at New York Law School. The January 25th panel was moderated by Mark Willis, Senior Policy Fellow at the NYU Furman Center for Real Estate and Urban Policy and … <Read More>
City Announces New Rule Prohibiting Vendors on City Bridges
On January 3, 2023, the Department of Transportation announced new rules that restrict vending on city-owned bridges. Under the new rules, vendors will not be allowed to sell on pedestrian walkways, bike lanes on bridges and bridge approaches. The rule was made in part to address the excessive crowding on the Brooklyn Bridge.