Real Estate Chances Better in Race to New York Mayor – Commercial Reviewer

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New York voted for primary mayor Tuesday, Brooklyn County President Eric Adams leads the first ballot, followed by Maya Vili and Catherine Garcia.

But given the notoriously slow counting of the New York Board of Elections and the need to recount multiple rounds of votes for a top-rated election, New Yorkers may not know who the Democratic mayoral candidate is, at least until early July. …

Regardless of how successful the race is, Adams is by far the most industry-friendly of the leaders. Between 2015 and 2019, Adams’ nonprofits and campaigns attracted USD 332,750 from developers and lobbyists seeking zoning or land-use changes in Brooklyn, The City reported in April.

As district president, he acted as a consultant in the land use process and was able to make recommendations that would influence the final outcome of zoning changes and individual projects. Since taking office in 2014, he has approved 86 percent of land use applications who came across his desk, City Limits discovered.

In terms of politics, Adams told the Commercial Observer that he supports Zoning much of South Midtown, roughly 14th to 42nd Streets between Ninth and Park Avenues, “to add new density to get affordable condos.” It also supports the reform of the city’s property tax system, the legalization of basement apartments and additional residential buildings, and the construction of micro-apartments and one-room apartments (SROs).

Garcia’s position is equally focused on development and growth, albeit thanks to her previous positions in the city government. including a six year run as a sanitation commissioner she does not have Adams’ track record in approving applications and campaign donations.

Her real estate and housing includes reducing bureaucracy when approving development and zoning from the City Construction Department, eliminating zoning for one family, building new SRO units and legalizing basement apartments. Garcia also supports Soho / Noho as well as Govanus, Brooklyn, resonances; reforming the system of taxation of city property; and the construction of more favorable housing.

On the other hand, Wiley’s position on such policy issues is not so clear. When she spoke to the Commercial Observer this spring, she focused on building more affordable housing for New Yorkers who earn less than $ 30,000 a year by committing $ 2 billion to fund the City to rebuild NYC Housing Governance and increasing housing voucher subsidies for New Yorkers who are homeless.

Meanwhile, two other mayoral candidates who are believed to be particularly prone to real estate interests are: commercial director Ray McGuire as well as tech entrepreneur Andrew Young – both lost the vote on Tuesday; Jan is so strong that he dropped out of the race that evening. And most of the dozens of city council races that decide how far to the left the camera can swing as of wednesday noon had not been called yet.

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