Incentivizing Affordable Housing | Manhattan Institute
This report examines the consequences of three rezonings that occurred during the final term of former New York City mayor Michael Bloomberg: Astoria (2010), Bedford-Stuyvesant North (2012), and Crown Heights West (2013). These areas can be characterized as “middle market”—where market rents are high enough to support new privately financed housing but not high enough to make the standard options under current mayor Bill de Blasio’s Mandatory Inclusionary Housing (MIH) program (which requires large percentages of low-income units) economically feasible. The report makes three interrelated points: This report takes as a given the city’s inclusionary housing programs and the state’s property-tax exemptions. It then analyzes how the city and state could do better in leveraging private investment to meet their housing goals. DOWNLOAD PDF This paper examines the outcome of three rezonings that took place in Brooklyn and Queens between 2010 and 2013, during New York mayor Michael Bloomberg’s
View all Articles Cities Housing May 20th, 2020 28 Minute Read Report by Eric Kober Share Download PDF Zoning, Taxes, and Affordable Housing: Lessons from Bloomberg’s Final Term Photo: Auseklis / iStock / Getty Images Plus Table of Contents This report examines the consequences of three rezonings that occurred during the final term of former New York City mayor Michael Bloomberg: Astoria (2010), Bedford-Stuyvesant North (2012), and Crown Heights West (2013). These areas can be characterized as "middle market"-where market rents are high enough to support new privately financed housing but not
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