Source: Crain’s

Date Published: 07.13.2025

Link: Predictions about the city’s future, from recession odds to what’s next for Penn Station

Mayor Eric Adams’ City of Yes zoning reforms aim to spur 80,000 new homes, but high interest rates and inflation are expected to keep housing construction slow, especially for affordable units.

To boost supply, Adams may need to push Albany to reform the 2019 rent law, which limits landlords’ ability to recoup renovation costs on rent-regulated apartments. The real estate industry says the law discourages investment and reduces available housing, while tenant advocates argue it protects affordability and plan to oppose any rollback.