Mayor Eric Adams emphasized during the bill signing that the City of Yes will not only increase the housing supply but also solidify the commitment to a fair and equitable city.
The initiative aims to create 82,000 new homes over the next 15 years, marking a transformative approach to urban development to tackle New York City's longstanding housing crisis.
The plan's approval came with a low margin, 31-20, reflecting mixed public reaction where hope for affordable housing is countered by skepticism regarding infrastructure capacity.
Despite the lowering of the housing unit target from 100,000, the City of Yes still represents one of the most significant zoning reforms in five decades.
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