Phillips Nizer Real Estate Alert: Mayor Adams Proposal “City of Yes: Zoning for Economic Opportunity” Outlined
06/22/2023Alert: Mayor Adams Proposal “City of Yes: Zoning for Economic Opportunity” Outlined
On June 14, 2023, New York City Mayor Eric Adams introduced his long-awaited proposal, City of Yes: Zoning for Economic Opportunity, intended to promote the City’s economic recovery from COVID-19 by focusing on four key areas:
- Revitalizing commercial corridors by allowing more types of businesses to open throughout New York City;
- Filling vacant storefronts by removing certain regulatory barriers in local corridors;
- Fostering the expansion of key growth sectors in all five boroughs; and
- Modernizing outdated use regulations to align with a modern economy.
To achieve these goals, the proposal promises sweeping changes to existing zoning rules. The City has not yet released the full text of the proposal, but this alert outlines some of the key proposals already made public.
To read the full outline download pdf