PUBLIC TESTIMONY
Testimony by Maddie DeCerbo, Representative of Real Estate Board of New York (REBNY)
1:27:17
·
114 sec
Maddie DeCerbo, representing the Real Estate Board of New York (REBNY), expresses strong support for the City of Yes for Housing Opportunity proposal. She emphasizes the critical need for zoning reform to address New York City's housing crisis, highlighting the proposal's potential to significantly increase housing production.
- REBNY particularly supports expanded office-to-residential conversions, increased density through new R11 and R12 districts, and the introduction of Universal Affordability Preference (UAP).
- DeCerbo notes that the proposal aligns with recent state tax incentives and recommendations from the Office Adaptive Reuse Task Force.
- She urges the City Council to consider any changes to the proposal through the lens of enhancing the city's housing pipeline.
Maddie DeCerbo
1:27:17
Hi.
1:27:18
My name is Maddie Deservo, and I'm here on behalf of the Real Estate Board of New York.
1:27:21
Revenue represents commercial, residential, and institutional property owners, builders, architects, and land use attorneys with decades of experience in zoning matters.
1:27:31
We are pleased to support city of yes for housing opportunity.
1:27:34
Revenue strongly supports the goals of housing opportunity, which marks one of the most significant updates to the zoning resolution since 1961.
1:27:41
New York City is facing a housing crisis deepened by years of under production and evidenced by a 1.4 1 city wide vacancy rate.
1:27:48
New York City has lagged behind rapidly growing cities like Orlando, Dallas and Phoenix over the past decade in permitting housing units.
1:27:55
While housing production remains anemic, rents continue to rise and outdated zoning regulations hindered the construction of much heated homes to address this crisis.
1:28:04
The zoning reforms and city of Jasper Housing Opportunity are therefore essential to the city's goals of producing 500,000 units over the next decade.
1:28:12
Revenue especially supports key components of this proposal such as the expanded opportunities for office to residential conversions, increased density through the creation of R11 and R12 districts, and the introduction of UAP.
1:28:25
The changes for office and residential conversions align with the recommendations by the city council created office adaptive reuse task force.
1:28:32
Additionally, these measures align with the recently adopted tax incentives for 67m and 45 x created through this year's state budget and have the potential to lead to the creation of thousands of affordable homes for New York City residents.
1:28:46
The changes embodied in this tax amendment represent the next generation of zoning rules for the planning, design, and development of housing for New Yorkers.
1:28:53
This proposal can ensure housing of all types and sizes are built, and we ask that the city council carefully considered any changes through the lens of whether those changes will protect, encourage, and enhance the housing pipeline for the city.
1:29:06
We look forward to collaborating with the council and refinements to the proposal.
1:29:09
Thank you for the consideration of these points.
