Posted on: December 23, 2025 06:03 PM

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More work to do with the NYC government funded by developers

So far the NYC Council passed more bills on housing than health, crime, education and anything that's not related.

Under the incoming Mayor as part of the affordable housing agenda so far seen with new bills which have not been signed by the current one in the office.

The main one is giving qualified nonprofit organizations the first opportunity to purchase certain residential buildings before they are sold on the open market (Intro 902-B) which is COPA.

The next one is a bit shocking as a start of a government bank in NYC which is to move away from the current tax lien sale system and toward a city-established land bank model (Intros 570-B, 1407-A, 1411-A, 1419-A, 1420-A).

The others are requiring a greater share of city financed rentals to serve very low-income and extremely low-income households beginning in 2027 (Intro 1443-A) and a minimum share requirement of city financed affordable housing production to be set aside for home ownership opportunities (Intro 958-A).

All these bills are a sure way to the developer's advantage and next year will be so exciting with more announcements especially to benefit tenants in the private sector.

Expect to see more constructions around NYC far more than before.