on Dec 19, 2024
City of Yes for Housing Opportunity is adopted. How does it impact development feasibility?
City of Yes for Housing Opportunity is adopted. How does it impact development feasibility?
Overview | The City of Yes for Housing Opportunity is a sweeping zoning reform aimed at tackling New York City’s housing crisis. Approved by the City Council on December 5, 2024, the initiative aims to enable more housing in every neighborhood by increasing allowances, flexibility, and incentives for diverse and affordable housing types, while reducing regulatory hurdles for development and conversions. The City estimates that over 80,000 units will be created through these changes.
Impact At-a-Glance | The zoning reform is complex, and we look forward to working with public, nonprofit, and private clients, in collaboration with planners, architects, and legal experts, to understand how the adopted zoning changes affect the value and potential of your assets. This document provides a summary of key changes and a high-level evaluation of their impact on development potential and feasibility.
Explore the full City of Yes Impacts at a Glance here.