The rent increases, which the Rent Guidelines Board deemed necessary to support “mom and pop” landlords, will affect two million residents.
“A New York City panel that regulates the rents for roughly one million rent-stabilized apartments approved the highest increases in almost a decade on Tuesday, after property owners said they were being pinched by taxes and rising expenses.” As reported by Mihir Zaveri in The New York Times, the Rent Guidelines Board voted to raise rents by 3.25 percent for one-year leases and 5 percent for two-year leases, affecting around two million New Yorkers. According to a separate article in Bloomberg, only 23 percent of New York residents can currently afford the city’s median rent.
“At the panel’s public hearing last week in the Bronx, more than 60 of roughly 70 speakers were tenants, tenant advocates and elected officials who argued for a rent decrease or a rent freeze.” Meanwhile, landlords say they need even higher rent increases to stay in business and make needed upgrades to buildings.
Defending the panel’s decision, Mayor Eric Adams, in a statement, said “small landlords are at risk of bankruptcy because of years of no increases at all, putting building owners of modest means at risk while threatening the quality of life for tenants who deserve to live in well-maintained, modern buildings.” Zaveri points out that while Mayor Adams and landlord groups highlight the plight of “mom and pop” landlords, “more than 60 percent of rent-stabilized homes are owned by landlords with portfolios of more than 1,000 units overall.”
FULL STORY: Rents Will Rise by at Least 3.25 Percent for 2 Million New Yorkers
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
Fair Housing Cannot Take a Back Seat to ‘Build, Baby, Build’
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LA Metro Board Approves New 710 Freeway Plan
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Austin’s Proposed EV Charging Rules Regulate Station Locations, Size
City planners say the new rules would ensure an efficient distribution of charging infrastructure across the city and prevent an overconcentration in residential areas.
Making California State Parks More Climate-Resilient
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City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Learn the tools for implementing Universal Design in planning regulations.