Q&A
Balancing rental housing and homeownership opportunities in new construction
1:46:17
·
76 sec
Speaker Adams raises concerns about the imbalance between rental housing and homeownership opportunities in recent years, asking what the administration is doing beyond zoning to address this issue.
- New housing construction has been predominantly rental housing with few opportunities for working and middle-class homeownership.
- The speaker emphasizes the need for a better balance between rental and homeownership opportunities.
- The administration is asked to provide specific plans to address this imbalance beyond zoning changes.
Adrienne E. Adams
1:46:17
Alright.
1:46:18
So so you just addressed my what if around DEP, and they're not the end all be be all as far as studies are concerned.
1:46:25
So thank you for addressing my what if before I got there.
1:46:28
Okay.
1:46:29
Let's talk about homeownership a little bit.
1:46:30
The city of yes is about removing zoning barriers to new housing construction.
1:46:35
However, in recent years, new housing construction citywide has been overwhelmingly rental housing with very few opportunities for working in middle class homeownership.
1:46:46
This conversation has become very extensive because it's very noticeable that we don't talk enough about out homeownership in the overall discussion when it comes to affordable housing and other things.
1:47:01
But you indicated that this proposal would make homeownership units easier to provide, but zoning alone as we know is not going to create more affordable homeownership.
1:47:11
So what exactly is the administration doing beyond the zoning resolution to better balance rental housing and homeownership opportunities in new construction?
1:47:20
We just spoke about this in my bill.
1:47:23
Proposal around homeownership and building homeownership with HPD.
1:47:27
And in in my estimation, there wasn't really too much of a balance established.
1:47:32
So what can you offer?
