HPD Announces Historically Low Rental Vacancy Rate

On February 8, 2024, the Department of Housing Preservation and Development announced the initial results of the latest New York City Housing and Vacancy Survey (NYCHVS). The survey is the official source of the net rental vacancy rate which is used to show the ongoing need for rent control and rent stabilization. The survey is run approximately every three years and done in partnership with the U.S. Census Bureau since 1965. It is the longest-running <Read More>



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 Reveals New Garbage Truck Design in Latest Push for Trash Containerization

On February 1, 2024, Mayor Eric Adams and Department of Sanitation Commissioner Jessica Tisch announced a twofold plan to move forward with the commitment made by Mayor Adams to store all street trash in pickup containers. The plan includes the introduction of automated, side-loading garbage trucks and a data-driven containerization strategy set to begin to take place in Manhattan Community Board 9 (Morningside Heights, Manhattanville, Hamilton Heights) this year. The pilot aims to containerize one … <Read More>


DOT Releases Final Rules for Permanent Outdoor Dining Program

Almost two years after the City Planning Commission’s zoning text changes, applications for the permanent program are expected to open next month. On February 2, 2024, the Department of Transportation released the final rules for the permanent outdoor dining program, “Dining Out NYC.”  Through the new program, outdoor dining will be expanded citywide on sidewalks year-round and in roadways seasonally from April through November. 


HPD Launches Month-Long Affordable Housing Push with Over 500 Units Planned at Inwood Waterfront Site

On January 29, 2024, the Department of Housing Preservation and Development began a month-long effort to advance affordable housing projects on public sites citywide as part of Mayor Eric Adams’ “24 in 24” plan. The plan, announced in his State of the City address, aims to advance 24 affordable housing projects on public sites in 2024 to create or preserve over 12,000 affordable units. The first site is currently an unused city-owned parking lot on <Read More>