The Real Estate Board of New York, a trade association for the real estate industry, has come out with a new study claiming landmarking historic neighborhoods retards construction of affordable housing citywide. Its last report, which said the same thing, was about Manhattan only.
“Landmarking historic neighborhoods could make it more difficult for Mayor de Blasio to fulfill his ambitious affordable housing goals,” said a story about the study in The New York Daily News. The report’s conclusions were based on data that found only 100 units of 35,000 affordable apartments built between 2003 and 2012 were inside landmarked districts. Absolutely zero affordable housing was built in landmark districts in Brooklyn in that time.
The report also said landmarking can impose “unforeseen barriers” on construction, such as additional costs created by a lengthy review process and higher design standards required by the LPC.
The head of the Greenwich Village Society for Historic Preservation said the report is poppycock because only 3 percent of the city consists of historic districts. “The notion that this is a major contributor to the unaffordability of our city is just laughable,” he told the Daily News.
The real estate industry has opposed landmarking since at least the 1950s. What do you think? Should de Blasio restrict landmarking in Brooklyn to encourage more affordable development here?