PUBLIC TESTIMONY
Testimony by Julie Stein, Executive Director of Union Square Partnership
7:33:17
·
99 sec
Julie Stein, Executive Director of the Union Square Partnership, testifies in support of the City of Yes for Housing Opportunity proposal. She argues that increasing housing production is crucial for New York City's economic vitality and business districts.
- The housing shortage has triggered an affordability crisis, which affects both New Yorkers and the city's ability to attract businesses.
- The proposal will allow for much-needed housing production, creating more abundant, stable, and affordable housing.
- Updating rules for residential conversion of vacant office spaces will address both the housing shortage and the need to adapt the commercial landscape.
Julie Stein
7:33:17
Hi.
7:33:17
Good afternoon.
7:33:19
My name is Julie Stein.
7:33:20
I'm the executive director of the Union Square Partnership, the Business Improvement District in Union Square And Fourteenth Street.
7:33:26
I'm here today in support of city of yes for housing opportunity because what's good for New York City's housing is good for its business districts.
7:33:34
Housing production in New York City has not kept pace with the job growth we've achieved over the past 40 years creating a housing supply shortage that has triggered an affordability crisis.
7:33:44
If we don't build more housing, it will handicap the economic vitality now and in the future.
7:33:49
As we described in the New York action plan, the post pandemic recovery plan for business improvement districts for business districts.
7:33:56
In addition to hurting New Yorkers, the housing affordability crisis has also become a key challenge in attracting companies to New York City and preserving the relevance and viability of New York City's business districts.
7:34:07
Employers need to know that they can attract and retain talent in New York City and that this talent will be stable and secure.
7:34:14
The precarious housing situation of New York's workforce weakens this confidence.
7:34:18
The city of yes proposal will allow for much needed housing production and create more abundant, stable, and affordable housing for New Yorkers.
7:34:24
In turn bolstering employers' confidence that locating in New York City and our business districts is a smart and safe investment.
7:34:30
Furthermore, business districts throughout New York City will be bolstered by updating rules for residential conversion of vacant office and other non residential space.
7:34:38
This smart reuse of existing spaces addresses both housing shortage and the need to adapt our commercial landscape for today's realities.
7:34:46
We need to ensure that New York remains a place where people want to live and work and expanding housing is fundamental to this goal.
7:34:52
I support the approval of CDBS for housing opportunity.
7:34:55
Thank you for your time and consideration.
