REMARKS
How the City of Yes proposal enables homeownership opportunities
1:47:33
·
106 sec
Director Garodnick explains how the City of Yes proposal will create more opportunities for homeownership across the city.
- The proposal reverses previous downzoning that decreased homeownership opportunities.
- It enables 'missing middle' housing and transit-oriented development suitable for homeownership.
- The plan relegalizes 2-family homes in 2-family districts, creating more homeownership possibilities.
- Accessory Dwelling Units (ADUs) can generate income for homeowners, making homeownership more accessible.
Daniel Garodnick
1:47:33
Thank you, madam speaker.
1:47:35
I I will start about how it's affected by the zoning proposal itself, and then attorney commissioner Kerry on to talk about what else is underway or possible.
1:47:45
The first point I would make here is that downzoning that took place in New York City under the Bloomberg Administration significantly decreased opportunities for homeownership, this reverses that.
1:47:58
This is a city wide text amendment that will enable homeownership in a variety of ways.
1:48:04
One way is through our missing middle housing.
1:48:06
When we're talking about transit oriented development.
1:48:09
We're talking about town center opportunities where we're looking at a 3 or a 4 or a 5 storey apartment building.
1:48:16
Those are the sorts of buildings which are really quite appropriate for homeownership.
1:48:21
Again, zoning doesn't define the difference between homeownership or rental in zoning, but those are very appropriate for homeownership.
1:48:29
We also are dealing with the conflicts that exist between HPD's own term sheets and our own zoning, which has made affordable housing, homeownership very difficult to effectuate.
1:48:42
We also are relegalizing 2 family homes and 2 family districts because so many of our rules today have made it functionally impossible to even get a 2 family home and a 2 family district.
1:48:52
That's another home ownership opportunity if we actually can allow for that 2 family home to exist.
1:48:56
And the last thing I would say is ADUs, the income, the prospective income from an ADU can help make home ownership more accessible to more people because if they have the opportunity to generate some income from their own property, it creates more opportunities for them.
1:49:14
That's in the Four Corners of the zoning.
1:49:15
Now I'm gonna talk I have commissioner Carrie on talk to you about the rest.
Adolfo Carrión Jr.
1:49:19
Thank you, Dan.
