Publications

  • Unlocking the Right to Build: Designing a More Flexible System for Transferring Development Rights

    This report details the untapped potential for NYC’s transferable air rights program, a critical tool for high-density housing development in New York City. Using case study examples, the report outlines limitations to the city’s current TDR policies and suggests a policy approach that could unlock millions of square feet of unused air rights to help produce more affordable housing. 

  • Buying Sky: The Market for Transferable Development Rights in New York City

    This policy brief analyzes development right transfers in New York City between 2003 and 2011, looking at the prices paid, number of rights transferred, location of the sending and receiving parcels, and legal mechanisms used, in order to shed light on an important but hard-to-track market. The report, “Buying Sky: The Market for Transferable Development Rights in New York City,” examines 243 arms-length transactions for which complete data is available, and finds wide variation in the price paid per square foot of development rights, even for sales within the same neighborhoods, programs, and time periods. See the press release or read the full report.

  • NYC Housing 10 Issues Series #6: Transferable Development Rights

    In a very dense city with a significant need for affordable housing, unused development rights are an important potential source of additional capacity. Wider transfer of development rights would support the development of affordable housing. Many communities, however, fear the increased density that additional transfers would create. Permitting transfers of unused development rights to more distant locations to spur the development of affordable housing. This brief explores the tradeoffs of a revised transferable development rights policy.

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.

  • NYC Housing 10 Issues Series #5: Moderate-Income Household Subsidy

    Housing is a substantial expense for New Yorkers, and has grown even less affordable in the last decade. As housing affordability becomes more of a strain for moderate- and middle-income households, many worry that those households might choose to leave the city altogether, which could undermine the city’s diversity and vitality. Moderate- and middle-income households are often not served by existing rental subsidies, though they may benefit from such a program. This brief examines the feasibility of a moderate-income housing subsidy.

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.

  • NYC Housing 10 Issues Series #4: City Pension Funds

    In the 2013 NYC mayoral election, some candidates suggested tapping the city pension funds as a way to maintain or increase the funding available to create and preserve affordable housing. The pension funds of New York City have some $137 billion in assets and might appear to be a valuable source of capital. However, the law limits the potential uses of these funds and restricts the mayor’s ability to control their use. This brief outlines the tradeoffs of using city pension funds as a potential source of capital to fund affordable housing efforts, as well as the severe limits on their use and the mayor's control of that money. 

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.

  • NYC Housing 10 Issues Series #3: Mandatory Inclusionary Zoning

    In the 2013 NYC mayoral election, several candidates proposed implementing mandatory inclusionary zoning policy to increase the development or preservation of more affordable housing units. Such a policy may have significant impacts on the production of affordable housing as well as the residential housing market across New York City. This brief outlines the tradeoffs of a mandatory inclusionary zoning policy in New York City.

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.

  • NYC Housing 10 Issues Series #2: Permanent Affordability

    City, state, and federal governments help address the shortage of affordable housing by subsidizing the development, rehabilitation, and operation of affordable units. A permanent affordability policy for government-financed programs in New York City would potentially have significant effects on tenants, the location of affordable housing, and on the amount and type of affordable housing that is developed in the future. This brief discusses the policy implications if the next mayor were to require developers to permanently maintain the affordability of units developed with public subsidies.

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.

  • NYC Housing 10 Issues Series #10: Affordable Housing Preservation

    In the 2013 NYC mayoral election, over 45,000 existing units of affordable housing were set expire from their current affordability restrictions and would require new subsidies during the newly elected mayor’s first term. Resources for preserving those units likely will be quite constrained.  The incoming administration accordingly would have to make hard choices between funding the construction and preservation of affordable units. This brief outlines the options for preserving affordable housing in New York City.

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.

  • NYC Housing 10 Issues Series #9: 421-a Property Tax Benefit

    Offering tax breaks to real estate developers may incentivize the construction or preservation of affordable housing, but such subsidies can also deprive the city of much-needed revenue. As the city faces significant budgetary challenges, policymakers must ensure that tax subsidy programs like 421-a are structured as efficiently as possible. The NYC mayor could offer to cap the property tax on properties with the 421-a tax exemption who maintain 20 percent of their units as affordable, but this may not maximize city property tax revenue while remaining attractive to property owners. This brief explores the tradeoffs of such a program.

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.

  • NYC Housing 10 Issues Series #8: Priority for Homeless Families

    In 2013, the homeless population in New York City had reached its highest level since the Great Depression. While the city and state adopted a variety of strategies to house the homeless, the growth of the population shows that much more needed to be done to assist homeless households seeking to move from shelter to permanent housing. The incoming NYC mayor would need to address the growing homeless census and consider whether to allow homeless families to move to the top of the waiting list for housing vouchers or public housing. This brief outlines the tradoffs of such a policy to address homelessness.

    The #NYChousing series, published in 2013 prior to the New York City mayoral election, identified 10 key affordable housing issues that were likely to confront the next mayor of New York City. The series aimed to inform the public about the policy tradeoffs by providing an objective analysis of the pros, cons, and questions related to key housing issues facing New York City. How the incoming New York City mayor would choose address the city's housing challenges in an environment of increasing needs, declining federal support, and a strengthening real estate market would have an enormous effect on the livability, diversity, and character of the city.