New York developers are transforming struggling office buildings into more than 12,000 new apartments in a bid to help offset the city\u2019s worst housing crisis in decades. <\/p>\n
Most of the units are either starting or completing construction next year and over 3,000 of them will be earmarked as permanently affordable homes, according to a new estimate from the Adams administration which tracks progress on City of Yes \u2014 a 2024 zoning overhaul designed to spur housing development<\/a>. A change in a tax-incentive last year also contributed to the growth. <\/p>\n","protected":false},"excerpt":{"rendered":"New York developers are transforming struggling office buildings into more than 12,000 new apartments in a bid to…\n","protected":false},"author":2,"featured_media":61664,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[3339,5869,1527,13448,21899,8697,75,9,24,56,63,65,64,2344,87,1491],"class_list":["post-61663","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-cities","tag-citylab","tag-construction","tag-goldman-sachs-group-inc","tag-housing-shortage","tag-jpmorgan-chase-co","tag-manhattan","tag-new-york","tag-new-york-city","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news","tag-office-space","tag-politics","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/61663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=61663"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/61663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/61664"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=61663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=61663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=61663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}