The bottom line is that Mandatory Inclusionary Housing is a lot more onerous to developers trying to build market-rate units than was expected. This was an issue even before 421-a expired. Leftist opponents and pro-development supporters were both wrong
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Erik Engquist
@erik_engquist
The 2016 East New York rezoning was supposed to produce 6,500 homes by 2030. Halfway to that date, only 600 have been added, @NicoleRosentha7 reports in @trdny
Our story shows the predictions of critics and supporters of the rezoning were both wrong.
therealdeal.com/new-york/2023/