"City officials issued permits for a mixed-use project that will rise 32 stories on a lot that now holds a two-story building. It is one of the first towers to fully exploit the higher residential floor-area ratio (FAR) now allowed after state and city officials scrapped 1960s-era limits adopted amid fears that higher density would cause trouble."
"Over the past several years, city and state leaders have focused on improving affordability by changing zoning and cutting red tape that impedes construction. With the new zoning changes in place that will benefit him, Mamdani is pressing forward with his own initiatives to shred red tape and speed up housing construction in a bid to improve affordability."
"State lawmakers changed the law affecting FAR in 2024 to allow New York City to build more densely. Then-Mayor Eric Adams followed the same year with City of Yes for Housing Opportunity, a sweeping zoning amendment aimed at easing rules so more housing could be added in every neighborhood."
New York City is experiencing increased housing density due to state law changes and rezonings that predate the current administration. A notable project in Midtown South will rise 32 stories, utilizing a higher residential floor-area ratio (FAR) allowed by recent zoning changes. These changes aim to improve affordability, which has worsened over the years. Mayor Mamdani is advancing initiatives to expedite housing construction and reduce red tape, while state lawmakers have adjusted laws to facilitate denser building and multifamily housing expansion.
Read at www.housingwire.com
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