To solve NYC’s housing crisis, city wants to legalize basement apartments and ADUs

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Plus, Union Square is getting a Target—and more intel in
today’s New York Minute news roundup

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ADUs for NYC?

As New York City struggles to address its affordable housing and
homelessness crises, the de Blasio administration plans to take
creative steps to up the number of low-cost apartments in the five
boroughs. The latest: Legalizing basement apartments and even
accessory
dwelling units
(ADUs)—also known as granny or in-law
flats—throughout the city, which Mayor Bill de Blasio is expected
to address in his State of the City speech tonight.

According to
The City
, the mayor will announce a program that will help
homeowners legally add these types of units to their property.
It’ll require zoning changes (to address parking concerns) and a
buy-in from the city’s Department of Buildings, but the de Blasio
administration believes the relaxed rules could add as many as
10,000 new units to the city’s housing stock.

The proposal follows a pilot program in East New York, which
launched last year and sought to help homeowners legally convert
their basements into rentable dwellings. But, according to the
City, the program is “barely off the ground”—the 40 homes
that would ultimately participate have yet to be chosen.

And in other news…

  • The Food Emporium at Union Square
    will be replaced
    by a Target in 2023. (Lest you forget,
    there’s already a Target on 14th Street and Avenue A.)
  • Manhattan’s Community Board 7 “voted
    in favor of a resolution calling on the Department of
    Transportation to assess alternative uses of curbside space in the
    neighborhood”—in theory, paving the way to study if the area
    actually needs free parking. (Car owners, predictably, are not
    happy.)
  • Moinian Group’s long-dormant project at 220 11th
    Avenue—once slated to have a Zaha Hadid design, but now a glassy
    office building—is finally
    getting off the ground
    .
  • The Strand is
    coming to the Upper West Side
    .
  • A Forest Hills house that was once owned by Humphrey Bogart’s
    cousin
    is for sale
    .
  • And Lewis Hamilton has
    chopped the price
    of his 443 Greenwich penthouse by $5
    million.
  • And finally, street signs bearing the name of the Verrazzano
    Bridge are
    finally being replaced
    with ones that have the correct
    spelling—that’s two Zs, not one.

.@MTA today
started to add an additional ‘z’ in the name Verrazzano…
pic.twitter.com/XF7Cg82gDl

— Joseph Spector (@GannettAlbany)
February 5, 2020

Source: FS – All – Real Estate News 1
To solve NYC’s housing crisis, city wants to legalize basement apartments and ADUs