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PUBLIC TESTIMONY

Testimony by Nick Felker, Resident of the Upper West Side, on City of Yes for Housing Opportunity

11:24:54

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Nick Felker, a resident of the Upper West Side and current renter, testified in support of the City of Yes for Housing Opportunity proposal. He emphasized the tangible effects of the housing crisis and the potential benefits of zoning reform in reducing rents and increasing affordable housing options.

Cited economic research showing that even market-rate housing can lower nearby rents in New York City
Highlighted successful rezoning efforts in other cities like Austin, Minneapolis, and Auckland that have led to decreased rents
Stressed the urgency of addressing the housing crisis and the need for a new approach involving all neighborhoods

Nick Felker

11:24:54

Hello.

11:24:55

My name is Nick Feltker, a resident of the upper west side.

11:24:58

And I'm currently a renter.

11:25:01

The term housing crisis can feel very abstract.

11:25:04

There's stats like a 1.4% vacancy rate.

11:25:08

But what does that actually mean?

11:25:10

It means that many of us have come here throughout the whole day in support of the city of yes, because we feel the crisis firsthand.

11:25:20

The economic theory is very clear on the benefits of zoning reform to reduce rents For example, one paper, do new housing units in your neighborhood, raise your rents by Jiaori Li, found that even market rate housing in New York City can post down rents for those living nearby.

11:25:40

EDUs, SROs, UAP, and DOD are all great policies that will help many neighborhoods do their part to add more affordable housing.

11:25:52

But going beyond theory and economics, we can see this working with our own eyes.

11:25:59

Austin, Texas, Minneapolis, even Auckland, New Zealand have had successful rezoning that have caused real rents to fall even as more people are able to live there.

11:26:12

What makes New York City the greatest city in the world, is not the buildings, and it's not the parks, it's you, it's me, and it's everyone here in this room.

11:26:24

We need more homes for the middle class, and we need more affordable homes.

11:26:29

And we can't let every affordable housing project turn into a 10 year debacle like what's happening in Elizabeth Street.

11:26:36

This crisis is getting worse.

11:26:38

We don't have time for all these delays.

11:26:42

It's time for in your approach involving every neighborhood that is people first, not working first, which is why I support the city of yes in full and hope that you do the same.

11:26:53

Thank you.

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Testimony by Theo Chino, First Secretary of Social Democrats of America, on City of Yes for Housing Opportunity

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Testimony by Salvatore Franchino from East Williamsburg on City of Yes Proposal