Citing an increased need for housing affordability, Bloomberg establishes a task force to examine an outdated pro-development city initiative.
"On Feb. 23…Mr. Bloomberg announced the establishment of a task force to overhaul a Lindsay-era program (the term of art is the 421a program) established back when there was little hope of attracting new construction in the city.
In recent years, hundredsâ€"if not thousandsâ€"of market-rate condominiums have sprouted up across the city on the public’s dollar under the program. It had been a Band-Aid, really, and Mr. Bloomberg was ripping it off."
"The way Mr. Bloomberg introduced the changes was innocuous enough. 'Because our population is growing, demand for housing has outstripped the supply, and for many New Yorkers, incomes are not keeping pace with increasing rents,' he said. 'The problem before us is no longer abandonment but affordability.'"
FULL STORY: Spotting Glut, Mayor Deflates Condo Cushion
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.
Study: London ULEZ Rapidly Cleaning up Air Pollution
Expanding the city’s ultra low-emission zone has resulted in dramatic drops in particle emissions in inner and outer London.
San Jose Mayor Takes Dual Approach to Unsheltered Homeless Population
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Atlanta Changes Beltline Rail Plan
City officials say they are committed to building rail connections, but are nixing a prior plan to extend the streetcar network.
Are Black Mayors Being Pushed Out of Office?
The mayors of New York, St. Louis, and Pittsburgh all stand to lose their seats in the coming weeks. They also all happen to be Black.
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