- REAL ESTATE EDUCATION
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GOTHAMIST --Historic Districts May Stunt Affordable Housing Growth
July 2, 2014
A new study has revealed that landmarking historic districts may hinder the creation of affordable housing through "unnecessary barriers and delays."
The results of the study, conducted by The Real Estate Board of New York (REBNY), may impede Mayor de Blasio's ability to fulfill his "Five Borough Ten Year Plan" [PDF] to combat the affordable housing crisis.
“This study clearly shows the inhibiting effect that landmarking has on the creation of new housing throughout the five boroughs," said Steven Spinola, REBNY President. “REBNY is working closely with the administration to help execute its plan for the creation of 80,000 new affordable housing units over the next ten years, but unnecessary barriers and delays to developing housing must be forgone to make this possible,”