We’re uncovering where the City’s recent zoning reform creates new opportunities for much-needed housing development.
Our Buildings + Places Advisory team conducted an analysis of New York City’s “City of Yes” initiative to uncover where zoning changes unlock new opportunities for much-needed housing development.
On December 5, New York City adopted the City of Yes for Housing Opportunity, the most significant update to the city’s zoning code since 1961. This transformative initiative aims to address the city’s housing shortage by increasing density, enabling office-to-residential conversions, and easing parking restrictions. The initiative is expected to create 80,000 housing units over the next 15 years, a step towards the 473,000 units estimated to be required by 2032 to keep pace with demand.
A key feature of the plan is the Universal Affordability Preference (UAP) program, which allows buildings in medium- and high-density districts to add at least 20 percent more housing if the additional units are income-restricted and affordable to households earning 60 percent of the Area Median Income (AMI). The affordability requirements are designed to complement the 485-x tax incentive for new residential development. These Floor Area Ratio (FAR) boosts are dependent on each parcel’s zoning district, adjacent street width, and location inside or outside of the Manhattan core. It is important to note that any projects within historic districts would still need to comply with the Landmarks Preservation Commission’s regulations to ensure that development preserves the historic character of the area.
AECOM mapped the new maximum allowable built floor area under the UAP program, comparing the previously allowable built area to new maximums to highlight neighborhoods with newly untapped development potential. Use the interactive map below to explore the percentage increase in maximum allowable square footage by neighborhood. Click the search button in the top left corner to zoom to a specific neighborhood.
AECOM mapped the new maximum allowable built floor area under the UAP program, comparing the previously allowable built area to new maximums to highlight neighborhoods with newly untapped development potential. Use the interactive map below to explore the percentage increase in maximum allowable square footage by neighborhood. Click the search button in the top left corner to zoom to a specific neighborhood.