During a recent New York City Planning Commission public meeting, planners discussed the income-restricted units in the upcoming development at 2185 Coil Street and their comparison to citywide averages. The project aims to incorporate permanent, income-restricted housing units, aligning with the city’s commitment to affordable housing.
The development plans require that 20 to 30% of residential floor area be designated for income-restricted homes. This strategy represents a significant step in expanding affordable housing in the Midtown area, as it would be the first instance of mandatory inclusionary housing mapped in that district (Source: https://youtu.be/guf7sYbd2wM&t=2566). Additionally, the proposal includes the creation of a special district with tailored regulations designed to promote desirable building configurations and support public realm enhancements.
Participants at the meeting emphasized the importance of integrating residential developments with the character of surrounding neighborhoods while ensuring compliance with existing zoning regulations. Currently, buildings exceeding 70,000 square feet in the nearby C64M district are prohibited from conversion to residential uses, a restriction that will soon be lifted to facilitate this project.
This development is part of a broader effort to expand affordable housing options, which is increasingly critical as housing costs across New York City continue to rise. By mapping these inclusionary housing requirements, city planners aim to create sustainable solutions to the housing crisis, benefiting both current and future residents.
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