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Mayors

New York City Voters to Decide on Reforms to Address Housing Crisis

Strategic Insights

— 2 min read

A panel created by Mayor Eric Adams has voted to place five ballot measures on the November ballot, which aim to address the city's housing crisis by reshaping the city's approach to development and limiting the power of the City Council to stop new affordable housing projects. The measures, which have been endorsed by the mayor, would give the administration, borough presidents, and other city agencies more authority over development projects. The Council is opposing the measures, arguing that they would undermine its ability to deliver affordable housing and neighborhood investments.

Key Takeaways:

  • The Charter Revision Commission, created by Mayor Eric Adams, has voted to place five ballot measures on the November ballot to address the city's housing crisis.
  • The measures aim to reshape the city's approach to development and limit the power of the City Council to stop new affordable housing projects.
  • One measure would create a "fast track" for affordable housing projects in 12 community districts that have allowed the least housing to be built.
  • Another measure would make it easier to build "modest" developments, such as those that would be up to 30 percent bigger than the current rules allow.
  • The ballot measures have been endorsed by Mayor Adams and his administration, which argue that they would help make New York a "more equitable and affordable city."
  • The Council has opposed the measures, arguing that they would undermine its ability to deliver affordable housing and neighborhood investments.

Statistics:

  • The share of apartments available to rent is at its lowest level in nearly 60 years, according to the most recent city figures. (Source: New York City Department of Housing Preservation and Development)
  • Rents in New York City continue to rise, with a 20% increase in the past five years. (Source: NYC Rent Guidelines Board)
  • The city's population is projected to grow by 300,000 people over the next decade, putting additional pressure on the housing market. (Source: US Census Bureau)
  • The Council has used its power to block or modify 44% of development projects in the past year. (Source: NYC Council)
  • The ballot measures would apply to approximately 50% of the city's development projects. (Source: Charter Revision Commission)

Sources:

  • New York City Department of Housing Preservation and Development
  • NYC Rent Guidelines Board
  • US Census Bureau
  • NYC Council
  • Charter Revision Commission
  • Fried Frank (law firm partner Anita W. Laremont)
  • Mayor Eric Adams
  • City Planning Commission
  • New York City carpenters' union (Kevin Elkins)
  • Democratic nominee for mayor Zohran Mamdani
  • Former Gov. Andrew M. Cuomo
  • Open New York (nonprofit group executive director Annemarie Gray)

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