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New York City will slash regulations on housing projects

MFPRO+ News

New York City will slash regulations on housing projects

Rules reform could save up to two years and an average of $100,000


By Peter Fabris, Contributing Editor | January 2, 2024
Image by Pexels from Pixabay - New York City will slash regulations on housing projects
Image by Pexels from Pixabay

New York City Mayor Eric Adams is expected to cut red tape to make it easier and less costly to build housing projects in the city.

Adams would exempt projects with fewer than 175 units in low-density residential areas and those with fewer than 250 units in commercial, manufacturing, and medium- and high-density residential areas from environmental review. The rules reform could accelerate the project review process by as much as two years and save projects an average of $100,000.

The city analyzed more than 1,000 environmental reviews and found that housing projects under a certain size typically had no negative impact. Big projects will continue to be subject to the current review process, but many sites can support 100-unit projects that together can have an impact on easing the city’s housing crisis.

Adams can reform the review process without action by the city council.

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