The Real Estate Board of New York to The City Planning Commission on the One LIC Neighborhood Plan

Download the Testimony

The Real Estate Board of New York (REBNY) is the City’s leading real estate trade association, representing commercial, residential, and institutional property owners, builders, managers, investors, brokers, salespeople, and other professionals active in New York City real estate. REBNY appreciates the opportunity to testify in strong support of the One LIC Neighborhood Plan (N250177ZRQ).

New York City is facing a deepening housing crisis characterized by severe lack of new production and an absence of sufficient affordable housing to meet the city’s needs. The citywide residential vacancy rate is at an all-time low of 1.4% and in Queens the rate is even lower at just 0.88%, highlighting the acute need for new housing in high-opportunity neighborhoods like Long Island City.

Long Island City is one of the fastest-growing neighborhoods in the city, with rising population and job growth over the past decade. As the demand for housing in LIC continues to outpace supply, plans like One LIC are urgently needed to meet current and future needs.

The One LIC Neighborhood Plan proposes to rezone approximately 50 blocks of Long Island City, paving the way for up to 14,000 new homes, including an estimated 3,500 permanently affordable units through the Mandatory Inclusionary Housing (MIH) program. It incorporates new tools advanced through the City of Yes for Housing Opportunity, such as the “active recreation bonus,” which will help facilitate housing development while creating publicly accessible open spaces for residents and improving the public realm. The plan also supports Long Island City’s continued evolution as a dynamic mixed-use neighborhood and regional employment center by expanding opportunities for modern commercial and industrial development and attracting new investment that can support job growth.

Importantly, the plan includes major public realm and infrastructure improvements, most notably the creation of a continuous waterfront in Long Island City. This long-overdue connection will link the shoreline to Court Square, enhancing neighborhood cohesion, improving pedestrian access, and delivering a more vibrant and inclusive community. The One LIC Plan is a thoughtful and balanced proposal that addresses our city’s urgent housing needs while also investing in the long-term vitality of a critical growth neighborhood.

REBNY commends the Department of City Planning and Council Member Julie Won for advancing this comprehensive plan. This plan is consistent with rational land use planning by balancing the development framework for new housing with necessary open space improvements and community investment.

Thank you for considering these points.