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Chair defends City of Yes proposal as necessary for addressing housing shortage

5:28:27

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67 sec

Chair Garodnick responds to Council Member Holden's criticisms by acknowledging current housing production but arguing it's insufficient to meet demand. He defends the City of Yes proposal as necessary to address the housing shortage and its negative effects on New Yorkers.

Garodnick cites the disparity between job creation and housing production
Highlights the low vacancy rate and its impact on housing costs
Argues that the housing shortage promotes segregation and gentrification
The committee chair closes the discussion and moves to the next speakers

Daniel Garodnick

5:28:27

I will only say that we can stipulate the fact that New York City is creating a number of units of housing on its own.

5:28:35

It's just not creating enough units of housing on its own.

5:28:38

Over the last 10 years, We created 800,000 jobs, 200,000 new homes.

5:28:43

We have produced housing at a lower rate in the last 40 years than we did in the 40 years preceding.

5:28:49

As a result, we have a 1.41 percent vacancy rate, which is having the effect of increasing cost for everybody.

5:28:55

So I I don't mean to to suggest that no housing is being produced on its own, just saying we're not keeping up.

5:29:01

And because we're not keeping up, it's hurting New Yorkers.

5:29:04

It's promoting segregation.

5:29:06

It's prompting, gentrification, and dis deflation.

5:29:09

And and you you may not accept that, but that is a that's what's actually happening.

Kevin C. Riley

5:29:16

Thank you, counsel, member Holden.

5:29:18

I just wanna be clear to everyone.

5:29:20

I just wanna have the opportunity for everyone to ask their question and answer.

5:29:24

So if members and the administration could just ask the question, you guys could just hear them all and just answer it after.

5:29:31

Counsel member Ariola followed by Lee and then Joseph.

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Council member challenges necessity of City of Yes proposal and raises concerns about neighborhood impacts

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Council Member Ariola criticizes City of Yes for Housing Opportunity proposal