NYC Council passes de Blasio housing and rezoning plans

On March 22, the New York City Council passed a proposal by a vote of 42-5 to overhaul the city’s 55-year-old zoning code. This, paired with the Mandatory Inclusionary Housing plan, would allow for larger residential developments in future rezonings, while requiring that a portion of the new housing be permanently affordable. Zoning for Quality and Affordability, which enables more residential development, passed 40-6. The housing requirement exempts buildings with fewer than 10 units and allows those with 11-25 apartments to instead pay into a city-run affordable housing fund. More on this story can be found here and here.