February 18: 8 - 11:30 a.m.
February 26: 8 - 11:30 a.m.
Implementing Affordable: New York's Affordable Housing Crisis
February 18, 2015 - 8:00 - 11:30 a.m.
As described by Mayor de Blasio, New York City has a crisis of housing affordability that touches everyone from the bottom of the economic ladder all the way up to the middle class. To address this crisis and in furthering his commitment to a more equitable city, the Mayor has laid out an unprecedented 10-year plan to build or preserve 200,000 affordable apartments across all five boroughs. The plan represents the most expansive and ambitious affordable housing agenda in the country with a potential investment of $41 billion over the 10-year period, surpassing the affordable housing agenda under Mayor Bloomberg.
This program will include two speakers from the administration – a keynote and a featured presentation – who will address key components of the housing plan, and the city’s changing demographics, respectively. The latter will cover population growth, an overall aging of the population, and the continuing trend toward smaller household sizes. A panel of housing and policy experts from the public and private sectors will discuss the housing response to these trends, the shape of the plan, and critical issues that must be addressed in order to achieve its ambitious goals. Critical issues will cover the appropriate balance between preservation and new construction, affordability income targets, and major implementation challenges including the proposal for shifting from an incentive based model to a mandatory inclusionary housing approach.
Trading High in the Sky: Transfer of Development Rights
February 26, 2015 - 8:00 - 11:30 a.m.
The Steven L. Newman Real Estate Institute, in association with the New York City Department of City Planning, will host a half-day conference to explore key issues and proposals pertaining to the transfer of unused development rights (TDR) in New York City. More than 40 years ago, the city enacted legislation allowing for landmarked properties to transfer their unused development rights to adjacent parcels. Since then, only a handful of such properties have taken advantage of these provisions. While New York City has pioneered TDRs with the creation of the Theater District, Grand Central Sub-district, and other localized programs to achieve specific policy objectives, the owners of individual landmarked properties often have little flexibility to sell their unused development rights in order to fund maintenance and maximize value.
This conference will explore proposals to relax the current regulatory controls in order to facilitate the transfer of development rights from landmarks; the legal basis and planning objectives of the current regulatory framework; the public review process; potential conflicts between TDR and other policy priorities; and various potential benefits to landmarks, special districts, and the city that could result from proposed revisions. This conference will be valuable to the public, private, and nonprofit sectors, because it provides an opportunity for discussions that could lead to constructive and economically beneficial changes for our industry. Other topics will include: optimal distances between sending and receiving areas; obligations imposed on the buyers and sellers of transferred rights; and accommodating such rights while ensuring that the planning priorities of receiving neighborhoods are not undermined. Much of the focus will be on TDR from landmarks, but discussion will also include transfers from other significant sites under private and public ownership, as well as an exploration of how TDR (along with bonus mechanisms) impacts the city’s land use planning, more generally.