"The proposals will shift review powers from the City Council to independent panels largely appointed by the mayor for certain housing developments. They will also drastically reduce the Uniform Land Use Review Procedure (ULURP) time from about seven months to a maximum of three months for certain developments."
"The proposals were approved at a time when the city boasts a historically low vacancy of around 1.4% according to 2023 figures and a citywide median rent of $3,676 per month, based on data from December 2024. Over 50% of New Yorkers currently spend more than 30% of their salary on rent the typical definition of affordable housing according to a report by the Yes on Affordable Housing Coalition."
New Yorkers approved three ballot proposals that transfer certain housing development review powers from the City Council to independent panels largely appointed by the mayor. The measures shorten the Uniform Land Use Review Procedure (ULURP) for specified developments from about seven months to a maximum of three months. All three proposals passed with at least 56% of the vote. The measures target accelerating affordable housing construction and increasing housing production in districts lagging behind the citywide median. The city faces a historically low vacancy rate of roughly 1.4% and a citywide median rent of $3,676 per month. Over half of residents spend more than 30% of income on rent.
Read at www.amny.com
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