On November 15, 2024, Department of City Planning (DCP) Director Dan Garodnick released new data showing the city’s storefront vacancy rate is down to 11.1 percent. This marks the fourth straight quarter of declining vacancy.
In comparison, a survey of 24 corridors across the city during summer 2020 showed inactivity rates of over 30 percent. Queens, the Bronx, and Staten Island all have borough-wide vacancy rates below nine percent, although some higher vacancy rates persist, … <Read More>
On October 10, 2024, the City Council passed Int. 956-C, an amendment allowing approved or alternative artwork to be painted directly on sidewalk sheds or construction fences. The bill transforms unsightly sheds and scaffolding into artistic expressions while the City maintains its efforts to Get Sheds Down and incentivize property owners to expedite building façade repairs.
On October 10, 2024, Councilmember Mercedes Narcisse introduced Int. 1082, legislation mandating the NYC Commissioner of Small Business Services to conduct a study and report on the fees and costs required to start and maintain small businesses in New York City – with particular focus on certified minority- or women-owned businesses (M/WBEs). The bill defines small business to cover those that meet the size standards under the code of federal regulations, are not a franchise … <Read More>
On May 6, 2024, Mayor Eric Adams and Small Business Services Commissioner Kevin D. Kim announced new investments to support business improvement districts (BIDs) and community-based organizations. Since 2022, the Adams administration has invested over $27 million for BIDs, merchant organizations, and other community-based development organizations.
On April 24, 2024, the New York City Department of Transportation Commissioner Ydanis Rodriguez announced incentives to reduce truck deliveries during busy hours of the day in an effort to improve traffic safety, protect the environment, and combat daytime congestion and double-parking. DOT will donate $6 million to incentivize nighttime deliveries from 7 pm to 6 am through their Off-Hour-Delivery Program (OHD). The funding will be allocated through the US DOT’s Congestion Mitigation and Air … <Read More>
On March 13, 2024, New York City Mayor Eric Adams announced the City’s acceptance of two federal grants worth a total of $123.6 million. The grants, “Reconnecting Communities and Neighborhoods Program” and “Neighborhood Access and Equity Program” were issued by the U.S. Department of Transportation and will be used on the Queensway project and for the Brooklyn Queens Expressway (BQE).
Around $117 million of the federal grants will go towards developing further the Queensway, a … <Read More>