PRESENTATION
Creating new zoning districts with higher Floor Area Ratios (FARs)
1:00:18
·
73 sec
Garodnick introduces the proposal to create new zoning districts with higher Floor Area Ratios (FARs) as part of the City of Yes for Housing Opportunity initiative. This proposal aims to spur housing development in high-demand areas.
- The proposal follows the recent repeal of the FAR cap by the state legislature
- New zoning districts with FARs above 12 would be created, but not mapped in this proposal
- These districts would require permanent income-restricted affordable housing through Mandatory Inclusionary Housing (MIH)
- The new districts could potentially allow FARs up to 15 or 18
- Garodnick presents this as a powerful new tool to create housing, including affordable housing, in high-demand areas
Daniel Garodnick
1:00:18
It was capped at 12.
1:00:22
For decades, this restricted our housing growth, especially in in the high demand job and transit rich neighborhoods where housing is urgently needed.
1:00:33
Earlier this year, thanks to the advocacy of many of you and, of course, by the administration, Albany repealed the FAR cap.
1:00:44
And so we are very, very encouraged to have this as a tool.
1:00:49
Next slide.
1:00:54
So what we would like to do in this proposal is to create new zoning districts.
1:01:00
With SARs above 12.
1:01:01
We don't map them anywhere.
1:01:03
We don't put them anywhere in this proposal.
1:01:04
We just create the opportunity for us and you to map them at a later date.
1:01:09
These districts would, of course, require permanent income restricted affordable housing through NIH And this would be a powerful new tool to create housing, including affordable housing in high demand areas.
1:01:20
So you see here new districts which take you up to 15 or 18.
1:01:24
Again, not mapped, just a tool for future use, and we wanna make sure that we have that tool.
1:01:29
For future use.
1:01:31
Next slide.
