"There's also no question that low-income tenants who make up the vast majority of rent stabilized tenants have also been facing increasing costs and a tough economic and inflationary environment,"
"The promise of a four-year rent stabilized rent freeze is fatally flawed and imposing a freeze before any data has been examined is contrary to law,"
Zohran Mamdani shifted to support private-sector involvement in addressing New York City's severe housing crisis. Leila Bozorg, deputy mayor for housing and planning, is developing a housing plan that includes private developers and significant city actions to accelerate construction. Planned elements include new financing tools to boost affordable housing, changes to land-use rules in neighborhoods resistant to denser housing, and requirements to increase use of union workers without necessarily mandating the highest prevailing wages. The administration also maintains a four-year rent freeze pledge, promises property tax reform and insurance cost relief for multi-family providers, but no timelines were provided. Real estate groups and legal advisers have signaled opposition and potential legal vulnerability to the rent freeze.
Read at Brooklyn Eagle
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