Big news for the future of Housing in NYC, Midtown is being rezone yet again to allow for any office building built pre-1990 to be converted to Residential or in numbers 136 million more square feet can become residential. If this works in encouraging office to residential conversions, it could play a big part in helping to fix the NYC affordability crisis
Obviously a ton more is needed to be done to resolve the NYC housing crisis, such as building actual public housing, densifying Queens and Staten Island, and implementing rent control measures to name a few of the key policies, but this is just one of many important peices of the puzzle to fixing the issue
