On December 10, 2024, New York City Mayor Eric Adams announced the City, with the assistance of the Office of Environmental Remediation (OER), has transformed 165 acres of previously unusable contaminated land into clean space for 28,000 units of housing, 12,000 of which are affordable housing units, 16 new schools, 2.9 million square feet of community space, and 6.1 million square feet of commercial space.
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City Reveals Proposal for Gansevoort Square Following Meat Market’s Early Departure from Site
On October 28, 2024, New York City Mayor Eric Adams announced the initial proposal for the Gansevoort Square project. The project includes utilizing Gansevoort Square, a City-owned site located on Little West 12th Street between Washington Street and 10th Avenue in Manhattan, for mixed-income housing, new public space, and expanding the Whitney Museum of American Art and the High Line.
City Releases Proposed Rules for Two New Tax Incentives Programs: 485-x and 467-m
On October 8, 2024, the New York City Department of Housing Preservation and Development (HPD) published the proposed rules for the Affordable Neighborhoods for New Yorkers (Real Property Tax Law Section 485-x) and Affordable Housing From Commercial Conversions (Real Property Tax Law Section 467-m) programs.
City Announces Award of $260 Million in Federal Grants for Brooklyn Marine Terminal, Inwood Greenway Expansion
On September 23, 2024, Mayor Eric Adams announced that New York City was issued $260 million in federal grants from the U.S. Department of Transportation through the Bipartisan Infrastructure Law. The funding will support key infrastructure projects in New York City, including the transformation of the Brooklyn Marine Terminal and the construction of a greenway segment along 10th Avenue in Inwood. The City has secured $2.37 billion in funding, including roughly $1.3 billion in competitive … <Read More>
City Marks Third Anniversary of Hurricane Ida with Updates on Flood and Resiliency Infrastructure Upgrades
On September 9, 2024, Mayor Eric Adams celebrated milestones in public infrastructure projects across the five boroughs, including sewer system upgrades and investments. These projects protect New Yorkers’ property and improve New Yorkers; safety in the face of climate change by implementing flood preparedness. This announcement is timely for the third anniversary of Hurricane Ida which brought the heaviest rainfall in New York City’s recorded history and resulted in thirteen deaths.
City Celebrates Opening of 24 Newly Completed School Buildings
On September 4, 2024, New York City Mayor Eric Adams announced the opening of 24 newly completed school buildings, creating 11,010 seats for students. Mayor Adams also announced that the 2025-2029 Capital Plan will provide funding for another 33,417 seats. These announcements come just in time to welcome students across the city for the first day of the 2024-2025 school year.