Mayor Eric Adams is trying to combat the city’s growing housing crisis.
What’s more, companies have come to grips with employees favoring either a hybrid work schedule, blending in office work and at home work, or workers being fully remote in the wake of the COVID-19 pandemic. the need and cost behind underutilized, pricey real estate holdings.
“I am a big supporter. Our city economy is diversifying and becoming less Manhattan centric, which is a good thing,” Kathryn Wylde, CEO of the Partnership for New York City, told The Post. “At the same time, we have big vacancy rates in older office buildings that can be converted to housing at far less cost than new construction if we create more flexibility in zoning and other requirements. This is the best and fastest way to deliver more housing options in diverse locations and improve the safety of areas of the city that lack 24/7 activity.”
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