© Robert Deutsch-USA TODAY
(Staten Island, New York) – New York City Mayor Eric Adams says New York needs more housing, and he’s willing to do whatever it takes to make it happen. Adams says the trick is to keep an eye on the vacancy rate, which is at a historic low of 1.4%. The low vacancy rate paves a path for incredibly expensive homes, skyrocketing rents, and for the poorest New Yorkers, homelessness.
Adams’s “City of Yes for Housing Opportunity” program is looking to address and fix those issues by creating over 100,000 new units of housing through a series of zoning changes. The last time New York City had major zoning reform was in 1961. “You have to find a sweet spot. And no matter what sweet spot you find, there are going to be folks who are going to say, ‘no, we don’t like it.’ That’s the beauty of New York,” Adams said. “Whatever I have to do to build housing, we’re going to do.”
