The Affordable Housing Industry’s Top 10 Stories of 2015

Affordable Housing Finance, with help from several industry leaders, counts down the top news events.

11 MIN READ

8. New York’s Affordable Housing Fight

New York City mayor Bill de Blasio has taken a bold stand to create and preserve more affordable housing in the Big Apple.

“If we do not act—and act boldly—New York risks taking on the qualities of a gated community … A place defined by exclusivity, rather than opportunity. And we cannot let that happen,” said de Blasio in his State of the City address in February.

The mayor is calling for the construction of 80,000 new affordable housing units and the preservation of another 120,000 affordable units over 10 years. And he is ready to rewrite the rules, including the adoption of a mandatory inclusionary zoning policy and zoning changes to allow taller buildings in some areas.

Although de Blasio has raised the level of conversation for the need for affordable housing in the nation’s biggest city, he still faces a lot of opposition. In November, both of his proposals faced rejection from community boards around the city. All 12 community boards in the Bronx and the Queens Borough Board voted against the plans.

These advisory votes may make it more difficult for the mayor to get the binding approval needed from the City Council.

About the Author

Christine Serlin

Christine Serlin is an editor for Affordable Housing Finance and Multifamily Executive. She has covered the affordable housing industry since 2001. Before that, she worked at several daily newspapers, including the Contra Costa Times and the Pittsburgh Tribune-Review. Connect with Christine at cserlin@questex.com or follow her on Twitter @ChristineSerlin.

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