City Council Speaker Adrienne Adams has been there, done that.
This was a running theme for Adams during the mayoral debate last week: While other candidates have laid out their plans to build more housing, she touted that she’s “already doing the work.”
She took credit for the passage of the City of Yes for Housing Opportunity, which is projected to pave the way for 80,000 new housing units over the next 15 years. (The current mayor also sees this as his signature housing accomplishment.) The City Council approved the zoning text amendment after making some changes to the proposal, including preserving some minimum parking requirements, and securing $5 billion in city and state funding.
Adams says she wants to build at least 500,000 new homes, with a “large share affordable and deeply affordable.” Her housing plan calls for upzoning neighborhoods to take advantage of the state lifting its cap on residential density last year, building housing atop more city libraries and on city-owned sites and exploring social impact funds as a means to acquire multifamily buildings to house people who are homeless. She also wants to reform the state’s environmental review law, but that would require action by Albany.
I am posing the same five questions to all mayoral contenders, as part of a question-and-answer series that will run in this newsletter. The first featured Sen. Zellnor Myrie, followed by Comptroller Brad Lander and Scott Stringer.
The five questions in this series are meant to be a vibe check, of sorts, on how candidates think about the real estate industry and its place in the political ecosystem of New York. The first three candidates completed their interviews in person or on the phone. Adams completed hers via email*, hence the em-dashes.
What is your most innovative housing idea?
Reforming the broken state’s environmental review law (SEQR) so we can build faster and better identify true environmental impacts. Right now, the environmental review part of the process takes too long and delays housing in New York—years working families don’t have. It also doesn’t accurately pinpoint environmental impacts. I’ve called for overhauling SEQR, modernizing city systems, and adequately staffing housing agencies to cut development approval timelines from years to months. That’s how we go from plans to permits to people moving in faster.
What do you think is missing from your opponent’s plans for housing?
The record of actually advancing a citywide housing plan, which is difficult. I’m the only candidate for mayor who has passed a citywide housing plan, having the hard conversations with other elected officials and communities, to actually build more housing, bring $5 billion for needed affordable housing and infrastructure, and lower rents. Plans don’t build housing—leadership does. That’s the difference.
How would you describe real estate’s role in shaping policy in New York?
Real estate is a major stakeholder, but it can’t be the only one. The goal should be balancing growth with equity—bringing in private capital while protecting affordability, labor, tenants and long-term residents. That’s how I led as speaker, and that’s how I’ll govern as mayor: by putting public interest at the center.
You’ve said that you are willing to accept donations from the industry. Is that still the case?
Yes, and I’ve always been clear about it. I take donations transparently and govern independently. My record shows I stand up to powerful interests when needed. I’m the only candidate who’s delivered the zoning and budget changes we need to build more housing—because I listen to everyone, but I answer to the people.
Why should folks in the industry vote for you?
Because I’m the only candidate who’s actually delivered results repeatedly at scale. I got City of Yes passed, shepherded major neighborhood rezonings and land use applications to approval, and secured over $8 billion in housing investments. I successfully lifted the 12 FAR cap. I know how to get things done in a tough political climate, because I know how to work constructively with diverse stakeholders to achieve results. If you care about building more housing in New York City, I’m the candidate who can actually do it.
*Email lacks the human touch of an actual, real-life conversation. It is never the preference for interviews.
What we’re thinking about: We’re one week away from the primaries. Who are you ranking for mayor, and in what order? Send a note to kathryn@therealdeal.com.
A thing we’ve learned: A key vote that will determine whether the plans for the Brooklyn Marine Terminal in Red Hook will move forward has been delayed once again. The city’s Economic Development Corporation confirmed that the vote is slated for June 27, instead of this Wednesday.
A 28-member task force will vote on the EDC’s preliminary plan for the 122-acre site, which includes building 7,700 housing units (2,695 of which would be affordable), along with commercial and light industrial space. The city also wants to modernize the port with new, electrified piers and a new marginal pier for smaller and mid-sized ships.
The vote will determine if the plan can begin environmental review and eventually embark upon the state’s general project plan approval process. Still, a lot is at stake with this preliminary vote: EDC officials have indicated that there isn’t a plan B if the task force doesn’t approve it. The plan has faced pushback from some elected officials and community groups that want the port to feature more industrial use, instead of housing, as well as those who argue that the city has tried to rush the process.
Elsewhere in New York…
— The U.S. Supreme Court on Monday threw out a decision upholding a New York Court of Appeals decision upholding state regulations that require employers to provide no-cost insurance coverage for medically necessary abortions, Gothamist reports. Monday’s ruling gives religious organizations another chance to challenge the regulations and the ruling, which upheld a narrow religious exemption.
— Assembly member Zohran Mamdani and former Assembly member Michael Blake cross-endorsed each other for mayor on Monday, the New York Times reports. This is the second cross-endorsement for Mamdani, who has a similar arrangement with Comptroller Brad Lander. Mamdani and Lander are asking their supporters to rank the other second. Blake is asking his supporters to rank Mamdani second.
Closing Time
Residential: The top residential deal recorded Monday was $21.4 million for a condo unit at 108 Leonard Street. The Tribeca new construction unit is 6,300 square feet with Alexandra Clancy, wife of famed fiction writer Tom Clancy, signing as the grantee. Douglas Elliman has the listing.
Commercial: The top commercial deal recorded was $13.5 million for 392 St. Marks Avenue. The Brooklyn apartment building is 27,100 square feet, is five stories and has 24 units.
New to the Market: The highest price for a residential property hitting the market was $11 million for a condo unit at 80 Columbus Circle. The Residences at the Mandarin Oriental condo is 2,400 square feet. Douglas Elliman’s Teplitzky Dunayer Team has the listing.
Breaking Ground: The largest new building application filed was for a proposed 21,363-square-foot, six-story residential building with 28 units at 2184 Muliner Avenue in the Bronx. John Backos of GRID Drafting and Consulting is the applicant of record.
— Joseph Jungermann
