Our city is facing a generational housing crisis with a vacancy rate at 1.4 percent, and half of all New York renters are paying more than 30 percent of their income in rent. The only way to solve this crisis is simple: build more. That requires all of us to say ‘yes’ to a little more housing in every neighborhood and ‘yes’ to ‘City of Yes for Housing Opportunity’ plan — the most pro-housing zoning proposal in New York City’s history.
There is a growing chorus of voices all across the city saying ‘yes’ to our City of Yes proposal. Last week, the New York City Planning Commission held an all-day hearing on the proposal with over 200 New Yorkers testifying — the majority of which voicing their support. And they weren’t alone. Last week, the borough presidents in the Bronx, Brooklyn, and Manhattan, as well as LGBTQ+ advocates and AARP also stood up to proudly say ‘yes’ as well.
If passed, City of Yes would allow us to finally address the longstanding housing shortage that has made life difficult and unaffordable for far too many hardworking New Yorkers. Everybody has a story: The would-be homeowners outbid by cash buyers or a private equity firm, the firefighter who cannot afford to live in the neighborhood he serves, the older New Yorker who has spent a lifetime in the family business only to find herself unable to pay rent on a fixed income, and the new parents who cannot afford a big enough apartment to raise their family. These are the everyday New Yorkers impacted by this housing crisis.
The crisis reached its peak because for too long, New York City has been at the mercy at folks who have said ‘no.’ In our administration, we continue to proudly say ‘yes’ — ‘yes’ to a little more housing in every neighborhood.
The changes we are proposing will do more than just add new buildings. The Department of City Planning estimates that our City of Yes plan could produce as many as 108,850 new homes over the next 15 years. These are not just numbers, they are homes that will allow New Yorkers to stay in the city they love, retire in the communities they grew up in, and welcome new generations of young people, families, and immigrants.
We know that New Yorkers feel strongly about the character of their neighborhoods, and we respect that. That’s why the Department of City Planning held extensive outreach and engagement with New Yorkers, including holding 10 public information sessions and two years of meetings with impacted stakeholders to make sure we did this right. We want to build more and protect what New Yorkers love about their neighborhood, and we can do just that. City of Yes allows us to meet this crisis head on and ensure that no one neighborhood has to carry the responsibility of delivering all the housing the city needs.
From the very start of this administration, we have been advocating for bold, forward-thinking solutions to deliver the housing that New Yorkers need and make our city more affordable. We have already notched important victories, including creating the second-most new affordable homes in one year, producing the most new supportive homes and homes for formerly homeless New Yorkers ever, and connecting more New Yorkers than ever before to permanent homes with CityFHEPS housing vouchers.
Together, with the City Council, we recently delivered an adopted budget that invests $2 billion more in capital funds across Fiscal Year 2025 and 2026 to the Department of Housing Preservation and Development and the New York City Housing Authority’s capital budgets. In total, our administration has committed a record $26 billion in housing capital in the current 10-year plan, ensuring that our dollars go towards solving this housing crisis.
It is time for a powerful new housing agenda — one that acknowledges the need to build more housing is more important than preserving the old ways of doing things. By building a little more housing in every neighborhood, we can set our city on course for a more equitable and affordable future. Our administration is saying ‘yes’ and we are calling on the City Council this fall to stand with us and vote ‘yes’ for the City of Yes for Housing Opportunity.
