As Mayor de Blasio pulls out all the stops to make the case for zoning proposals critical to his affordable housing plans, the Citizens Budget Commission assessed the economics of housing construction in the city.
Rahul Jain and Michael Dardia of the New York Citizens Budget Commission this week released analysis on the cost of affordable housing in the city.
From the beginning, the report acknowledges the ongoing debate (and lack of consensus) about what kinds of housing to generate, and how, to improve the affordability of the city's housing stock. With that context in mind, the report states: "In order to assess these concerns it is necessary to understand the economics of housing construction in New York City: How much does it cost to build residential units and what level of rent is needed to generate sufficient revenue to cover those costs?"
The brief report covers three subheadings: 1) cost of construction, 2) who can afford the city's rents, and the cost required to build more affordable units. The picture that emerges from the analysis shows how astronomically expensive the city is—even in so-called "weak" markets.
FULL STORY: The Cost of Affordable Housing
New York Mayor Announces ‘Get Stuff Built’ Housing Plan
Mayor Adams says the new plan will cut building processes by 50 percent to accelerate badly needed housing construction, but parts of the proposal still face hurdles to get approved.
NYC Rents Rising at Twice the National Rate
New York renters are being squeezed out as landlords raise rents by hundreds, sometimes thousands, of dollars.
NYC Planning Head Defends Growth-Oriented Policies
Acknowledging anti-development sentiments currently simmering at an "all-time high," New York's planning director Marisa Lago defended de Blasio administration policies like mandatory inclusionary housing.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Test News Post 1
This is a summary
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
Test News Headline 46
Test for the image on the front page.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service