A de Blasio backed bill will likely pass the state legislature this week
Mayor Bill de Blasio's efforts to create more affordable housing in New York City are gaining support among members of the state legislature, the New York Post reports. A bill backed by him recently cleared the Senate Housing Committee, and could likely pass by the end of the week, according to the Post.
Currently, the state imposes a floor-area ratio cap limiting the numbers of units in residential buildings. This bill is looking to remove that restriction. Neighborhoods likely to see the most amount of development following this change would be Hudson Yards, the Financial District, and Midtown, according to the Post.
While the approval of the bill would mean that the Mayor will likely reach his goal of creating and preserving 200,000 units of affordable housing over the next ten years, critics are worried that the bill will be more beneficial to real estate developers.