Could More Flexible Air Rights Policies Facilitate the Growth of Affordable Housing?
During the 1970s fiscal crisis, the city acquired significant quantities of property by way of owner abandonment and tax foreclosure, which it used in subsequent decades to subsidize affordable housing development. Virtually none of that land remains available today, however, and as we recently noted, the now-stratospheric cost of privately held land poses myriad obstacles to new affordable housing production, particularly in neighborhoods with good public schools, ready access to transportation and employment centers.
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Affordable Housing, air rights, Bill de Blasio, Furman Center for Real Estate & Urban Policy, infrastructure, Landmarks Preservation Commission, New York University, zoning, Real Estate Board of New York
