STATEMENT BY MAYOR BLOOMBERG ON CITY COUNCIL PASSAGE OF FIRST QUEENS INCLUSIONARY REZONING IN MASPETH-WOODSIDE
“Today, we open a new chapter in our efforts to create more affordable housing in Queens. The passage of an inclusionary housing zoning text for the recently approved 130-block Maspeth-Woodside rezoning epitomizes our Administration’s commitment to provide new opportunities for building affordable housing – while at the same time preserving the character of lower scale neighborhoods.
“Utilizing the zoning and financing tools that have been developed by the City, we are able to address both of these needs in a balanced fashion. The rezoning, led by the Department of City Planning, will preserve the character of roughly 110 blocks of the Maspeth and Woodside neighborhoods. It will also create opportunities for additional housing on portions of Queens Boulevard in Woodside.
“The inclusionary housing provision, to be implemented by the City’s Department of Housing Preservation and Development, will enable property owners along those stretches of Queens Boulevard to build 33% more housing in exchange for creating or preserving 20% of the residential floor area they develop as permanently affordable housing for the community. The better the market, the more valuable the extra units in the taller buildings become. The typical real estate equation suggests that a booming market makes it harder to build affordable housing. We are turning that equation on its head.
“The City is using every tool at our disposal to build and preserve 165,000 units of affordable housing by 2013 as part of our $7.5 billion New Housing Marketplace Plan. This is the largest municipal affordable housing plan in the nation’s history and will provide affordable homes for 500,000 New Yorkers in all five boroughs. Today is Queens’ day to celebrate and I want to commend the City Council for its partnership on this important initiative and also note the cooperation of local elected officials, community groups and housing advocates whose input was vitally important.”