November 25, 2024<\/p>\n
Investments <\/em>will strengthen affordability, homeownership, neighborhood infrastructure, tenant protections, agency capacity, and planning efforts while advancing zoning reforms to produce over 80,000 new homes<\/em><\/p>\n City Hall, NY<\/strong>\u00a0\u2013 <\/a>The New York City Council highlighted the $5 billion in commitments the Council secured for its\u00a0City for All<\/em><\/a>\u00a0housing plan, as part of\u00a0its<\/a>\u00a0agreement<\/a>\u00a0on the Zoning for Housing Opportunity (ZHO) citywide zoning text amendment. Together with modifications to ZHO, it is one of the most significant housing plans in New York City history, with $1 billion committed by Governor Kathy Hochul and the State of New York. The agreement is estimated to produce 80,000 new homes and invests in solutions that deepen the affordability of housing, support affordable homeownership, bolster neighborhood infrastructure, preserve affordable housing (including NYCHA), protect tenants, strengthen housing agencies\u2019 capacities, and support new planning efforts that can produce more housing. The Council put forward\u00a0City for All\u00a0<\/em>to advance a holistic housing plan that could support working- and middle-class New Yorkers and invest in solutions that met their housing needs, recognizing that zoning reform was only one part of addressing the housing crisis.\u00a0City for All\u00a0<\/em>to advance a holistic housing plan that could support working- and middle-class New Yorkers and invest in solutions that met their housing needs, recognizing that zoning reform was only one part of addressing the housing crisis.<\/p>\n \u201cThe committees\u2019 approval of the Council\u2019s comprehensive housing plan to modify the Zoning for Housing Opportunity text amendment with major investments in City for All<\/em> demonstrates that it is possible to create a significant amount of new housing in every neighborhood, while respecting neighborhood character and investing in more affordable housing, communities, and homeownership,\u201d said Speaker Adrienne Adams<\/strong>. \u201cToday is an important step forward to address the city\u2019s housing crisis that is making it unaffordable for working- and middle-class New Yorkers. Residents of our city need affordable and stable homes to rent and own and addressing that shortage, while supporting existing homeowners and tenants, deepening affordability, and strengthening the infrastructure of neighborhoods, are goals we must all share for a safer and stronger city.\u201d<\/p>\n A more detailed summary of the $5 billion in commitments to City for All can be <\/strong>found <\/strong>here<\/strong><\/a>.<\/strong><\/p>\n [Read More]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" November 25, 2024<\/p>\n Investments <\/em>will strengthen affordability, homeownership, neighborhood infrastructure, tenant protections, agency capacity, and planning efforts while advancing zoning reforms to produce over 80,000 new homes<\/em><\/p>\n City Hall, NY<\/strong>\u00a0\u2013 <\/a>The New York City Council highlighted the $5 billion in commitments the Council secured for its\u00a0City for All<\/em><\/a>\u00a0housing plan, as part of\u00a0its<\/a>\u00a0agreement<\/a>\u00a0on the Zoning for Housing Opportunity (ZHO) citywide zoning text amendment.<\/p>\n …<\/p>\n