12/08/2022
FINALLY! NYC desperately needs more housing. We've been making this point for at least 10 years now. Great to see our politicians coming around.
For a generation, developers were vilified as 'gentrifiers' or worse. But it turns out that if the population goes up, but no new housing is produced, it sets off a pretty nasty fight for the remaining units, and that is what causes gentrification. Adding 500k new units would go a long way towards limiting rent increases and reducing homelessness!
The plan would speed up development reviews, which can take months or even years.