NYC Is One Step Closer To A Big Boost In New Affordable Housing
Mayor Bill de Blasio’s goal of 200,000 new affordable housing units in the city got a boost Wednesday when the City Planning Commission voted 9-3 with one abstention in favor of the proposed Mandatory Inclusionary Housing program.
The requirement will mandate that developers who ask for residential rezonings set aside at least 25% of units as affordable. It’s not a done deal yet, but the approval means the proposal can now go before the City Council, which is set to vote on it as soon as next month, reports the New York Daily News.
One sign that its chances of passing look good: before the vote, The Real Deal reported that the Dept of City Planning is already asking developers filing plans with the city to do so according to the MIH guidelines.
The plan has caught flack for certain aspects, like a “hardship exemption” that would let developers drop the proportion of affordable units in a project if they can show that a project wouldn’t be profitable due to the requirement. [NYDN]
