Legal & Regulatory
Is the Big Apple Now the City of Yes?
The City of Yes for Economic Opportunity initiative — passed on 6 June 2024 — represents the most substantial change to NYC's zoning laws since 1961. Paul Lilly examines the key amendments: universal affordability preferences, relaxed parking requirements, expanded landmark floor area transfers, zoning lot splits, office-to-residential conversions, and accessory dwelling units. Early results show 8,850 new storefront businesses and 12,000 new housing units by end of 2025.
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