Issue Brief: Achieving New York City's Housing Moonshot

A former New York City planner evaluates the legal and regulatory obstacles to more housing in the Big Apple

NEW YORK, NY – New York City Mayor Eric Adams spoke in a press conference in July about alleviating the city’s “housing crisis” and achieving his “moonshot” goal of 500,000 new housing units within the next decade. But what would it take to get there? In a comprehensive new Manhattan Institute report, senior fellow Eric Kober outlines the critical legal and regulatory changes the city must enact to achieve its ambitious goal.

The report from Kober, a former official with the department of city planning, highlights the need for more flexible zoning laws to facilitate the development of economically viable projects. Kober also emphasizes that reforms in tax policies and rent regulations are essential to incentivize the construction of large rental apartment buildings, ensuring that developers receive fair returns on their investments. Moreover, the report advocates for modernizing construction regulations to remove outdated barriers and promote innovative building methods, such as "mass timber" construction.

However, the path to these reforms is fraught with significant political challenges, and Kober warns that swift change is unlikely. Even under the most optimistic scenario, the city may fall short of the “moonshot” goal— but still, every step forward to resolve the ongoing housing crisis is welcome.

Kober calls on New Yorkers who support these necessary changes to prepare for the difficult political battles ahead. Only by rallying behind these reforms can the city hope to make the "moonshot" goal of 500,000 units a reality soon.

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