"Right now, New York City is in the grip of a generational housing crisis. Our vacancy rate sits at just 1.4%, the lowest in more than five decades. Rents remain at record highs. And too many New Yorkers are struggling to find a home they can afford in the city they love."
"Walk through neighborhoods across New York City and you'll find them: narrow, barren, underutilized lots interrupting otherwise complete blocks. Sometimes it's a patch of cracked pavement used for parking. Sometimes it's fenced off, collecting trash or attracting rodents. Sometimes it's occupied by a building that uses only a fraction of what the site could hold."
"Because these small lots have big potential. They are hidden-in-plain-sight opportunities to create housing, strengthen neighborhoods, and bring new life to blocks that have been left behind."
New York City faces a severe housing shortage with a vacancy rate of just 1.4%, the lowest in over five decades, forcing residents to struggle with record-high rents and difficult choices between basic necessities and housing costs. Throughout the city, small vacant or underutilized lots interrupt otherwise complete blocks, creating visible gaps in the urban landscape. These parcels, often used for parking, fenced off, or occupied by underperforming buildings, represent hidden opportunities for development. The housing crisis stems from decades of insufficient construction relative to population growth and economic expansion. The New York City Council proposes unlocking the potential of these small lots as a strategic solution to create more housing, strengthen neighborhoods, and revitalize underperforming areas while addressing the generational housing shortage.
Read at www.amny.com
Unable to calculate read time
Collection
[
|
...
]