November 21, 2023

NYC to pay 15 homeowners up to $400K to build apartments on their properties

The city's Department of Housing Preservation and Development (HPD) on Tuesday launched the "Plus One ADU" pilot program to help qualifying homeowners add an additional small home on their properties, known as an accessory dwelling unit. The city will pay 15 owners of single-family homes up to $395,000 to build the units, which could be backyard cottages, attic conversions, garage studios, basement apartments, or in-law suites. The pilot program aims to spur the creation of affordable housing amid the city's current crisis while also providing homeowners with extra income.
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October 19, 2023

NYC on track to build just 11,000 homes this year, half of 2022 total, report finds

New York City will build just 11,000 new units of housing this year, a sharp decline from the year before and way below the number of homes needed to address the city's current housing crisis. According to a report released Wednesday by the NY Building Congress, construction of new residential units dropped by 62 percent in 2023, due to the expiration of the 421-a tax abatement in combination with high interest rates.
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October 6, 2023

NYC ends credit checks for families with housing vouchers

New York City is making it easier for New Yorkers to get into affordable homes. Mayor Eric Adams and the Department of Housing Preservation and Development on Thursday announced households with CityFHEPS housing vouchers will no longer have to undergo credit checks when selected for affordable housing, speeding up the process of finding housing for more than 4,000 families a year. According to the city, vouchers guarantee a family can afford the rent, making credit checks unnecessary in the process.
September 6, 2023

NYC property tax has risen disproportionately for working-class homeowners, report finds

Property tax in New York City has risen since the pandemic, with most of the burden placed on working and middle-class homeowners, according to a report. State Comptroller Thomas DiNapoli on Wednesday released a new report that found property tax bills have continued to increase, despite property values decreasing for a large number of condos, co-ops, and rental apartments across the city. According to DiNapoli, the way the city calculates property taxes makes lower-valued properties pay a higher property tax, putting a bigger burden on lower-income New Yorkers and less on the wealthy.
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August 31, 2023

New York to prioritize ‘pro-housing’ localities for $650M in funding

New York is moving forward with a plan to spur housing development across the state. Gov. Kathy Hochul on Thursday officially launched the Pro-Housing Communities Program, an effort that will prioritize up to $650 million in funding to localities across New York that are committed to creating housing. As part of the initiative, certified Pro-Housing Communities will have priority over other localities when applying for funding through the program, which has begun accepting applications.
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August 28, 2023

100 percent affordable housing to replace two Boerum Hill parking lots

New York City is moving forward with a development plan that will bring hundreds of new affordable apartments to a bustling part of Brooklyn. The city's Department of Housing Preservation and Development last week began community outreach for two 100 percent affordable developments on city-owned parking lots in Boerum Hill. The sites, located at 153 Nevins Street and 108-114 Third Avenue, will include 125 new apartments for families and seniors.
March 22, 2023

NYC multi-family housing production down for third straight month, report finds

A new report shows that New York City is not building enough housing to meet current demand. The Real Estate Board of New York on Tuesday released its February 2023 Multi-family Foundation Plan Application Report, a monthly report that reviews applications submitted by developers to the NYC Department of Buildings for new residential developments. For the third month in a row, there have been fewer than 30 total filings for new developments across the five boroughs, according to the report.
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February 22, 2023

New legislation would require NYC co-op boards to reform application process

New legislation introduced by New York City lawmakers this month would require co-op boards to explain to prospective buyers why they are being rejected. The three-bill legislation package, put forth by Public Advocate Jumaane Williams and Council Member Pierina Sanchez, aims to reform policies that critics say contribute to housing discrimination.
Details here
August 11, 2022

NYC may ban tenant criminal background checks by landlords and brokers

Legislation prohibiting landlords from denying tenants housing based on criminal history will be introduced in the New York City Council on Thursday. The "Fair Chance for Housing" bill, sponsored by Council Member Keith Powers, bans "landlords, owners, agents, employees, and real estate brokers" from obtaining arrest or criminal record information at any point in the housing process.
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April 14, 2022

Rent Guidelines Board recommends increases between 2.7% and 9% for rent-stabilized units

The city's Rent Guidelines Board on Thursday released a report recommending a rent hike for rent-stabilized apartments due to an increase in operating costs for landlords over the last 12 months. According to the agency's 2022 Price Index of Operating Costs report, owners saw costs rise by 4.2 percent. Using three formulas, the board recommended an increase in rent of between 2.7 percent and 4.5 percent for one-year leases and between 4.3 percent and 9 percent for two-year leases. The suggested rent increase comes after the board voted to not raise rents for six months last year and fully freeze rents in 2020.
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February 24, 2022

NYC reaches $2.25M settlement with notorious Crown Heights landlord duo

Mayor Eric Adams and New York Attorney General Letitia James on Wednesday announced a $2.25 million settlement against Gennaro Brooks-Church and Loretta Gendville, who attempted to illegally evict tenants at their Brooklyn property during the pandemic in violation of the state's moratorium, and reportedly ran an illegal hotel operation over the course of several years. By terms of the settlement, the property located at 1214 Dean Street in Crown Heights will be turned over to the city and transformed into affordable housing, with the previous owners paying $250,000 in fines.
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January 28, 2022

New York requests additional $1.6B in federal rent assistance

Gov. Kathy Hochul announced on Thursday the state has requested an additional $1.6 billion from the United States Department of Treasury to help fund the state's Emergency Rental Assistance program. Although $1.4 billion has been distributed to New Yorkers struggling to pay rent due to the coronavirus pandemic, there are nearly 174,000 tenants whose applications to the state's program have not yet been fulfilled, according to the governor.
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January 6, 2022

Hochul’s sweeping New York recovery agenda addresses affordable housing crisis, homelessness

In her first State of the State address Wednesday, Gov. Kathy Hochul announced a sweeping agenda that would address housing affordability, equity, and stability by growing the state's affordable housing stock and expanding the housing supply. She also proposed a set of initiatives to address homelessness and housing instability. Hochul called the state's housing needs "a complex challenge that requires an all-levers approach."
See Hochul's housing proposals

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