Stroock Special Bulletin
"Weisbrod Discusses the de Blasio Administration’s Affordable Housing Program: Now in Its “Toddler” Stage"
At the CityLaw breakfast on August 28, 2015, Carl Weisbrod provided an update on the de Blasio Administration’s housing plan, which Weisbrod described as now in its “toddler” stage. During a speech last year, Weisbrod described the affordable housing program as in its “infancy.”
This Stroock Special Bulletin provides a brief overview of the de Blasio program, which is the most ambitious of its kind in the country, and the biggest in New York since the Koch Administration. Today, the City is managing the problems of success: continued growth and a shortage of housing. Conversely, in the Koch era, the City was planning for shrinkage, had abundant vacant land, and much abandoned housing.
A key element of the de Blasio Administration’s housing program is mandatory inclusionary housing. Unlike the current voluntary inclusionary housing program, through which developers receive a FAR bonus for providing affordable housing, the new program will be mandatory: If a developer wants to build residential, the developer will have to include some affordable housing in the project.