City of Yes landmark transfer framework creates new opportunities
January 30, 2025 Source: Crain’s NY Date Published: 01.30.2025 Link: City of Yes landmark transfer framework creates new opportunities Mayor Eric Adams’ “City of Yes for Housing Opportunity” revamps the landmark development rights transfer program to better preserve historic buildings and boost nearby development. The updated program expands eligibility to landmarks in all zoning districts and allows transfers to more sites within the surrounding area, not just adjacent lots. It also streamlines approval by requiring only City Planning Commission certification, cutting time and costs. Though transfer limits remain, the changes give landmark owners more flexibility to fund maintenance and help neighbors build housing. With over 1,400 landmarks holding unused development rights, this update could significantly support preservation and housing growth in NYC.