Q&A
Implications of the proposal on building types and affordability
5:56:41
·
63 sec
Council Member Bottcher inquires about the implications of the proposal on tall buildings with few apartments and the distinction between rental and condo construction. Chair Garodnick clarifies the affordability requirements and the tendency towards rental construction.
- Garodnick explains that additional bonuses in medium or high-density areas must be entirely affordable.
- He notes that buildings with single apartments per floor typically don't take advantage of these programs.
- Bottcher and Garodnick agree that these programs tend to encourage rental construction rather than condos.
Erik D. Bottcher
5:56:41
And these tall buildings with one apartment per floor or you've got a, you know, 70 storey building with 70 apartments or 50 apartments in it.
5:56:56
What's the what's the implications there?
Daniel Garodnick
5:57:00
Well, in a medium or high density area.
5:57:04
If somebody wants to take advantage of this program, any additional bonus would have to be entirely affordable.
5:57:12
So and similarly, if somebody's taking advantage of the 485 x tax abatement program, there would need to be percentage of the entire building that would be affordable.
5:57:22
There sometimes and I would even say routinely a building with a single apartment per floor is not the building that is taking advantage of these programs, but Certainly understand your concern about that.
Erik D. Bottcher
5:57:34
It's also rental versus condo.
5:57:36
Right.
5:57:36
Those tend to be condos.
5:57:39
These programs encourage rental construction.
Daniel Garodnick
5:57:42
That's right.
5:57:43
Thank you.
