New York City officials, led by Mayor Eric Adams, unveiled plans to facilitate the conversion of office buildings into housing and to open manufacturing areas south of Times Square to residential development. These initiatives aim to revitalize the struggling business district in Midtown Manhattan and tackle the city’s housing crisis. Rezoning manufacturing areas could yield around 20,000 new homes, while office conversions could provide additional housing stock. However, despite these efforts, they fall short of addressing New York’s substantial housing shortage, estimated to be in the hundreds of thousands. The proposals require City Council approval and are expected to be voted on next year. Despite the challenges, the initiatives have been praised by developers and housing advocates as steps toward addressing urgent problems.

https://www.nytimes.com/2023/08/17/nyregion/eric-adams-midtown-rezoning-housing.html