""The next mayor will undoubtedly hear plenty from the business community about their priorities. But New York's homeless population deserves a voice in City Hall that's just as loud and just as urgent." New York's most powerful and influential business leaders are eager to get their priorities heard by the new mayor, whoever he may be. Real estate executives and Wall Street partners have met with Zohran Mamdani, fundraised for Eric Adams,"
"The numbers tell a stark story. New York's homeless population is increasing at an alarming rate. In calendar year 2024, the number of New Yorkers in shelters-excluding new arrivals-increased by roughly 12 percent to more than 73,000. The fundamental issue driving that increase is a lack of housing. The vacancy rate for apartments sits at a historically low 1.4 percent. This past June, rent prices surged 7 percent year-over-year, marking the seventh consecutive month of rising housing costs."
Powerful business leaders are poised to shape the incoming mayor's priorities, but thousands of homeless New Yorkers require equally urgent attention. Homelessness rose about 12 percent in 2024 to over 73,000 shelter residents excluding new arrivals. A severe housing shortage is the core driver, with apartment vacancy at 1.4 percent and rents up 7 percent year-over-year in June, the seventh straight month of increases. Organizations that both serve homeless New Yorkers and develop supportive affordable housing report that city government can act decisively. The next mayor must remove three bureaucratic bottlenecks; first, fast-track affordable housing approvals within 100 days by expediting environmental reviews and waiving certain fees for 100 percent affordable projects.
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