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New York City’s Far-Reaching Housing Proposals Are Still Not Ambitious Enough | Manhattan Institute

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In the fall of 2022, New York City’s Department of City Planning (DCP) began public outreach on a series of ambitious changes to the text of the city’s Zoning Resolution, called “Zoning for Housing Opportunity,” intended to address the ongoing housing crisis. This paper explains how these changes might work and what effects they might have. It argues that the proposed changes are useful and form an important part of the solution. However, without additional changes, both to zoning and to other applicable laws that constrain the supply of housing in the city, the crisis will continue. Additionally, speed of change is of the essence, and the procedural impediments to solving the crisis quickly need to be removed. Housing conditions in New York City are grim for those seeking rental housing. Market rents are softening a bit but, as of fall 2022, remain near record highs.[1] Rising interest rates are leading to softness in housing prices, and this, in turn, affects rents, since rental and

View all Articles Cities Housing, New York City January 5th, 2023 61 Minute Read Issue Brief by Eric Kober Share Download PDF New York City’s Far-Reaching Housing Proposals Are Still Not Ambitious Enough Table of Contents Introduction In the fall of 2022, New York City’s Department of City Planning (DCP) began public outreach on a series of ambitious changes to the text of the city’s Zoning Resolution, called “Zoning for Housing Opportunity,” intended to address the ongoing housing crisis. This paper explains how these changes might work and what effects they might have. It argues that the pro

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