New Order Requires City Owned Properties To Be Reviewed For Potential Housing Projects

By Idy Perl

NYC residents are only too aware of the housing crisis that is affecting the entire city. There is currently only a 1.4% rental vacancy rate, which leaves many locals without appropriate housing options. 

To try and mitigate the crisis, Mayor Adams introduced executive order 43, which requires all city agencies to review their city owned or controlled properties to scout potential lots for residential developments. The Adams administration has a goal of building 500,000 new homes by 2032, and finding the right properties for those projects is the first step. 

“If there’s any land within the city’s control that has even the remotest potential to develop affordable housing, our administration will take action,” Adams said. “To solve a generational affordable housing crisis, we must bring new innovative ideas to the table and activate all city agencies, whether they are directly involved in creating housing or not, to help deliver for New Yorkers.