New York City is poised to make a significant change to its zoning laws, potentially paving the way for more construction and development across the five boroughs. The proposed amendment would eliminate a long-standing requirement that developers set aside a certain percentage of new residential units for low-income and affordable housing. Currently, this "inclusionary zoning" policy has been a major hurdle for builders seeking to bring new apartments to market, as it adds significant costs to projects. By relaxing this rule, the city may be able to increase the supply of housing and stimulate economic growth, but critics argue that it could also exacerbate the city's affordability crisis.
New York looks set to lower a big barrier to building The Economist
