On May 6, 2024, Mayor Eric Adams and Small Business Services Commissioner Kevin D. Kim announced new investments to support business improvement districts (BIDs) and community-based organizations. Since 2022, the Adams administration has invested over $27 million for BIDs, merchant organizations, and other community-based development organizations.
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DOT Discusses Bike, Bus Priority Lane Future Projects as Congestion Pricing Begins Next Month
On May 2, 2024, Department of Transportation Commissioner Ydonis Rodriguez announced proposed bus priority and bicycle lanes and discussed existing projects as part of efforts to prepare for the start of congestion pricing, set to launch on June 30th. Under the newly approved congestion pricing plan, drivers will be charged a toll to go south of 60th Street; the toll aims to encourage people to use alternative means of transportation to alleviate what is currently … <Read More>
DOT, DEP, and DDC Finish $4.7 Million Infrastructure and Sidewalk Renovation Project in Westerleigh, Staten Island
On February 27, 2024, the NYC Department of Environmental Protection (DEP), NYC Department of Transportation (DOT), and NYC Department of Design and Construction (DDC) announced the completion of an infrastructure project in Westerleigh, Staten Island. The project upgraded water mains and sanitary sewers, added new storm sewers and improved roads and sidewalks. The entire project cost the City $4.7 million which was $1 million less than predicted and the project was finished on time.
City Imposes Two-Year Facade Inspecting Ban for Engineer Following December Partial Building Collapse in the Bronx
On February 22, 2024, Mayor Eric Adams and the Department of Buildings announced an agreement for a two-year suspension for a professional engineer to conduct facade inspections following the December 2023 partial collapse of 1915 Billingsley Terrace in the Bronx. Several families lost their apartments, although there fortunately were no fatalities or serious injuries.
Updated: “How Doomed is the Loop?”: Discussion on Remote Work Impact on City’s Financial Health
How “doomed” is New York City due to the prevalence of remote work and its impact on commercial real estate values? Experts discussed the city’s fiscal outlook during a recent panel discussion, “How Doomed is the Loop?,” hosted by the Center for New York City Law at New York Law School. The January 25th panel was moderated by Mark Willis, Senior Policy Fellow at the NYU Furman Center for Real Estate and Urban Policy and … <Read More>
HPD Announces Bergen Green Affordable Housing Project in Latest 24 in 24 Push
On January 31, 2024, the New York City Department of Housing Preservation and Development (HPD) announced that Apex Building Group and Bridge Street Development Corporation will be building 116 homes for low-income families at 516 Bergen Street in Prospect Heights, Brooklyn. The announcement comes in light of Mayor Adams’ push for affordable housing advancements on publicly owned land. Mayor Adam’s 24 in 24 plan is seeking to create or preserve around 12,000 units of housing … <Read More>