Housing officials say that landlords registered 38,000 vacant units so far this year, down from the 60,000 reported in 2021. Landlords are still pressing for an end to restrictions they say keep apartments offline.
Testimony and a new report highlight how rent-regulated apartments are disappearing thanks to creative combining of units. The state is weighing rule changes that aim to end the practice.
Permits for more than 58,000 apartments show rush to secure lucrative 421-a benefit ahead of state law’s June expiration.
Since THE CITY’s finding that last year some 89,000 rent-stabilized units were empty, tenants and elected officials have been taking to the streets.
Roughly 1 in 10 rent-regulated apartments were vacant in 2021, Census survey data reveals — far more than the 61,000 vacancies landlords reported to the state.
If Velázquez had maintained her opposition and the committee had nonetheless voted the rezoning through, it could have been the death blow for the Council’s tradition of ‘member deference’
Every new unit must be built in someone’s backyard, but the current approval process stymies building, say developers and some advocates.
City Council committees are seeking a clear explanation from public housing officials and Mayor Eric Adams about what exactly happened with the water at Jacob Riis Houses.
The city’s animal care agency and other nonprofits are increasing efforts to pair pet owners with the resources they need to hang on to their furry friends when money is tight and housing can’t be found.
Renovation of an Upper West Side apartment building is the cause of disputes between longtime residents and new ownership.
Permits Surged Before 421-a Tax Break Expired — But Not Enough to Stave Off a Housing Construction Lull, Developers Warn
Before the widely used construction incentive expired this spring, one-third as many building permits were issued than when the last expiration loomed.
The Low Income Housing Tax Credit unit shrank from six employees, city records reveal. Local development groups say refinancing and renovations are getting delayed.
Highlights from the 2021 Housing and Vacancy Survey, a key study of the city’s housing stock and its affordability.
Can NYC Live Without Its $1.7-Billion-a-Year Developer Tax Break? Dueling Claims Define Budget Talks
Budget watchdog warns letting the 421-a program lapse will doom needed new housing development, while city comptroller urges cancellation along with a property tax overhaul.
Real estate industry seeks carte blanche to rework older office buildings, as the work-from-home revolution gives edge to neighborhoods with full-time residents.
The 421-a tax incentive costs the state $1.7 billion a year in lost revenue. Builders say, without it, New York’s housing crisis would be even worse. Here’s what to know as Albany debates the discount’s future.
Complaints abound at Stratford Tower, where residents worry about the risk of running too many space heaters following the deadly fire last month just two miles away.
Real estate industry says renewing the 421-a program is essential to ensuring housing development, including affordable apartments, and have the governor on their side. But some city and Albany leaders say it should not survive.
Newly mandated improvements to building energy efficiency in New York aren’t just ways to mitigate climate change and get off of fossil fuels, but could lead to immediate quality of life benefits for people living in affordable housing.
The City Council’s approval of the downtown Manhattan rezoning marked a late-term legacy victory in the mayor’s push to reshape one of the city’s whitest and wealthiest neighborhoods. Meanwhile, opponents fumed, even amid last-minute changes.
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