The Furman Center released a big report yesterday about how inclusionary zoning affects prices and development. In other words, the report looked into whether incentivizing the creation of affordable housing puts an undue strain on developers, forcing them to raise prices for market-rate units or scrap would-be projects. The study focused on how inclusionary zoning has worked in San Francisco, D.C., and suburban Boston areas, and it more or less concluded that it does not sink development or cause unnatural price hikes. “Our analysis refutes the ‘sky-is-falling’ cries from IZ opponents; we find no evidence that IZ programs have reduced housing production in the San Francisco area, and find evidence of only slight effects on production in the Boston area,” said Vicki Been, Director of the Furman Center, in a statement. “However, we found that IZ policies have produced only a modest number of affordable housing units, suggesting that IZ by itself is not a panacea for a community’s affordable housing challenges.” Indeed, the current practice of simply requiring a small percentage of affordable housing in an otherwise market-rate developmentâ€”which is one of the main ways New York City is addressing its affordability crisisâ€”is something, but it’s hardly everything.
Report on the Impact of Inclusionary Zoning Programs [Furman Center]
Photo by Housing Here and Now.
A group of artists are transforming a large parking garage on Dean Street between Grand and Classon into a performance space that will feature a restaurant, bar, art gallery and a large backyard, as DNAinfo was the first to report. Their venture, Global Square, will host concerts, dance performances, movie nights and art shows at […]
Crown Heights 466 Prospect Place Broker: Fillmore Price: $2,999,000 Sunday 1:00 – 2:30 GMAP Williamsburg 265 North 6th Street Broker: Elliman Price: $1,750,000 Sunday 1:00 – 2:30 GMAP Crown Heights 1537 Pacific Street Broker: Urban Vue Price: $1,600,000 Saturday 10:00 – 2:00 GMAP Bed Stuy 600 Hancock Street Broker: Sky Group Realty Price: $800,000 Saturday […]
Comment: Two sold above ask and the other two are in contract after dropping their prices. Open House Picks 8/30/2013 [Brownstoner]
Fridays at 11:30, Brownstoner Upstate brings you a selection of properties within three hours north, and a little east or west, of New York City. There are few places we love house hunting in Ulster County as much as Olivebridge. The wee hamlet in the town of Olive marches to the beat of its own […]
Three Brooklyn pols — Councilman Brad Lander and Assembly Members James Brennan and Joan Millman — spoke out against the closing of Park Slope assisted living facility Prospect Park Residence and called on the owner to reconsider. And it turns out the owner is, in fact, also the owner of the building. The Real Deal […]