In two letters sent to state legislative leadership on Monday, March 7th, the New York Housing Conference led calls for the support of two policies that will create vital housing opportunities in New York City.
The first letter asks for the inclusion of a proposal to lift the residential FAR Cap in the State’s Multiple Dwelling Law in the legislature’s One House Budgets, expected to be released this week (week of 3/7). The second letter asks the same for language which provides regulatory relief for hotel and commercial conversions in certain areas of the City.
17 organizations signed onto these letters in the hopes that both proposals–which were introduced in Governor Hochul’s Executive Budget–stay in the budget, as zoning and regulatory reforms are critical ways that we can create more mixed-use neighborhoods and increase the supply of affordable housing. Budget negotiations are expected to commence after the release of One House Budget Bills later this week. Governor Hochul and the Legislature are required to adopt the FY 23 Budget by April 1.
You can find the hotel conversion letter here.
You can find the FAR cap letter here.