With the passage of City of Yes, many developers who had been waiting on the sidelines are now diving back in and restarting projects. We are already seeing deals that didn’t make sense before suddenly becoming possible. Here are just a few we are working on right now:
Townhouse Development
Low density R4 district
The developer felt the units would not be marketable without a parking space for each one, which wasn’t feasible under the old zoning rules. With City of Yes easing yard restrictions and offering more planning flexibility, we’re now able to include a parking space for every unit.
Single Family Home
Low density R5 district
A homeowner who had been wanting to expand his house for years was held back by strict zoning regulations. Thanks to City of Yes loosening yard restrictions and allowing extensions for overbuilt buildings, he can finally move forward and build his dream home.
Boutique Condo in Greenwich Village
Existing small lots
Zoning restrictions on lot size had capped this property at just two units, preventing the owner from fully leveraging his equity. With City of Yes removing this limitation, he can now build a multi-family building and finally maximize his ROI.
Synagogue to Residential Conversion
Low density R4 district
A large synagogue was too big to convert into any income-generating use under the old rules. However, the new City of Yes regulations allow conversions to residential units as-of-right in all districts, making condo conversion a viable option for this property.
Unlocking Development Potential Across the City
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