State Assembly Speaker Carl Heastie, yesterday, echoed Governor Cuomo’s commitment not to pass an extension of the 421a tax incentive program without a prevailing wage requirement, probably dooming it for the current legislative session.
Mayor de Blasio signed several bills into law this week extending J-51 until 2019; giving additional protections to building workers when property is sold; formalizing violation policies after natural disasters such as Hurricane Sandy; and reducing building permit fees for single family homeowners and potentially raising them for commercial properties.
How complex is it to build on or near the waterfront? You can find out by plugging in your address at the Economic Development Corporation’s new Waterfront Navigator website and see all the permits and approvals required by city, state and federal agencies. Turns out “waterfront” goes farther inland than you would think.
A Furman Center study of gentrification released this week defined 15 gentrified neighborhoods that were among the lowest income areas in 1990 and had higher than median income rent growth through 2014. In many ways, the report shows that gentrifying areas are the ones where there were holes to fill…the neighborhoods identified lost 26% of their population from 1970-1980 and as of 2010 were still down almost 16% from 1970 levels.
The de Blasio administration is still working on its plans for rezoning midtown East for higher density and modern offices, so the Landmarks Preservation Commission is looking at blocking redevelopment of 12 more properties, bringing the total to 50.
This week’s BuildingsNY exhibitor focus is on Thermaxx. Meet them at the Javits Center May 24-25th.