NYC Council plans to set housing production targets for every community district

New York City has one of the largest and most diverse housing stocks. From iconic brownstones to tall skyscrapers, the city offers a rich tapestry of residential options. However, New York’s housing inventory has not been able to match the needs of its residents. The city’s population and job opportunities have been growing faster than its housing production. 

New York City is facing a longstanding housing shortage, which drives up home prices and makes this city unaffordable for many of its residents. New York City Council Speaker Adrienne Adams proposed a new measure that would increase the city’s affordable housing inventory by setting housing production targets for all 59 community districts. 

The new plan, known as Fair Housing Framework, would require “high-opportunity,” or affluent neighborhoods with easy access to public transit and highly-rated schools to build more affordable housing units. These new residential units must be available to individuals making under $56,000 a year or families of four earning less than $80,000. 

“To deliver real relief for New Yorkers, we must prioritize equitable and affordable housing development that matches the need in our city,” said Speaker Adrienne Adams. “Permanent housing is the key to safety and stability, and by investing in equitable affordable housing production, we can ease the stressors that exacerbate other citywide challenges.”

Under the new plan, the NYC agencies would conduct housing assessments in every district across the city and determine their housing needs by January 2025. The housing production targets would be set for five years and include the following metrics: total housing, affordable housing, housing to accommodate elderly households, and affordable housing preservation. 

The Fair Housing Framework resembles Governor Kathy Hochul’s New York Housing Compact plan, which failed to make the state budget this year. Hochul’s ambitious proposal called to establish housing production targets for every locality in the state and punish those who fail to meet them. However, unlike Hochul’s plan, the City Council proposal would not impose penalties on districts that missed the target.

Resources:

“Speaker Adams, Council Members, Advocates, and Unions Unveil Fair Housing Framework Legislation to Set Local Affordable Housing Targets for Production, Preservation, Voucher Use, Anti-Displacement Resources, and Equity Investments,” (New York City Council, 2023)

“Housing targets in every NYC district would lead to more equitable development, City Council says,” by Aaron Ginsburg (6sqft, 2023)

“NYC Council plans affordable housing targets to spur development in city's wealthier neighborhoods,” by David Brand (Gothamist, 2023)

“Council Speaker unveils bill that would set housing goals for all NYC neighborhoods,” by Téa Kvetenadze (NY Daily News, 2023)