NYC Mayor Moves Forward With Office-To-Residential Conversion Plan

While it still needs City Council approval, a community development plan that aims to create approximately 20,000 new homes in the next 10 years is being ushered in by NYC Mayor Eric Adams, New York YIMBY was among outlets to report in August. By updating zoning rules and streamlining administrative hurdles, the next phase of the so-called Midtown South Neighborhood Action Plan is geared toward cutting the red tape involved in converting office properties into multifamily residential buildings. Formerly known as the Midtown South Mixed-Use Plan and described by the mayor as part of NYC’s “City of Yes for Housing Opportunity” plan, the initiative covers a 42-block area that has been “designated for manufacturing use for more than half a century.”