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Council Restricts Housing Supply
futureofcapitalism.com

"Council Aids West Side Housing" is the headline over a news article in the Wall Street Journal reporting, "A change to city zoning laws aims to preserve affordable housing for a large swath of the West Side, blocking new development in the Garment District, West Chelsea and Hudson Yards....The City Council voted on Wednesday to extend a zoning-law amendment that previously has been applied to Clinton, a midtown West area also known as Hell's Kitchen. It now will also restricts landlords or developers from changing more than 20% of any multi-family building in the additional West Side neighborhoods. Council members say the rules will allow for building renovations but not demolitions.....About 1,500 units in 108 buildings will fall under the new amendment....The vote on Wednesday was an extension of the 1974 Clinton Special District amendment, which was passed to protect that area's low-rise character and affordable housing."

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Council Restricts Housing Supply
futureofcapitalism.com

"Council Aids West Side Housing" is the headline over a news article in the Wall Street Journal reporting, "A change to city zoning laws aims to preserve affordable housing for a large swath of the West Side, blocking new development in the Garment District, West Chelsea and Hudson Yards....The City Council voted on Wednesday to extend a zoning-law amendment that previously has been applied to Clinton, a midtown West area also known as Hell's Kitchen. It now will also restricts landlords or developers from changing more than 20% of any multi-family building in the additional West Side neighborhoods. Council members say the rules will allow for building renovations but not demolitions.....About 1,500 units in 108 buildings will fall under the new amendment....The vote on Wednesday was an extension of the 1974 Clinton Special District amendment, which was passed to protect that area's low-rise character and affordable housing."

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Craig Carmin

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