### NYC Council Moves Forward with Modified 'City of Yes' Housing Plan

The New York City Council has taken a significant step toward addressing the city's housing crisis by approving a modified version of Mayor Eric Adams' "City of Yes" housing plan. The revised proposal, which secured approval from key committees, includes a substantial $5 billion funding commitment from both the city and state and introduces a more nuanced approach to zoning regulations.

Intense negotiations, stretching late into Thursday afternoon, resulted in the plan receiving endorsement from the zoning and land use committees, with votes of 4-3 and 8-2, respectively. Although the original blueprint aimed to create up to 109,000 new homes over 15 years, adjustments to the plan have lowered this projection to around 80,000 units.

One of the most debated elements was the elimination of parking mandates. While the initial draft proposed scrapping these requirements citywide, the approved version implements a three-tiered system. In areas well-served by transit, parking mandates will be wholly removed, whereas regions with limited transit access will see a significant reduction. In locales with poor transit, the mandates will largely remain unchanged.

Speaker Adrienne Adams heralded a major victory with the inclusion of the $5 billion funding package, a first for the plan. This financial boost includes $1 billion from Governor Kathy Hochul's next state budget and will support various projects, such as housing capital, infrastructure improvements, and tenant protections over the next decade. Mayor Adams' administration championed this inclusion, securing essential support in the process.

Additional adjustments were made to other elements of the plan, including the legalizing of accessory dwelling units (ADUs). The revised plan permits the construction of such units on properties with one or two family residences, provided they adhere to specific conditions like being above ground level in flood-prone areas and ensuring homeowners reside on the property.

The plan also modifies the proposal to allow mixed-use developments. Though initially intended to re-legalize housing above storefronts in low-density areas, the approved plan restricts this to certain commercial zones and excludes single-family home districts.

Furthermore, the regulation allowing three- to five-story apartment buildings near rail stations has been refined. These developments will now only be permissible within a quarter-mile of outermost subway or rail stations, excluding single-family neighborhoods. Large housing projects will need to ensure that at least 20% of units are affordable to families earning 80% of the area median income.

Lastly, the policy enabling developers to increase apartment capacity by 20% in medium- and high-density neighborhoods has been revised. Now, the additional units must be affordable to households earning 40% of the area median income, providing deeper affordability than initially proposed.

The modified "City of Yes" plan will next go before the full City Council for a vote on December 5, following approval from the City Planning Commission. This new direction aims to balance growth and sustainability, addressing the critical housing needs of New Yorkers.