New York is taking a crack at reforming its environmental overview course of.
Gov. Kathy Hochul desires the state to alter what initiatives are topic to the State Environmental High quality Evaluation Act, or SEQRA.
As is commonly the case with the State of the State addresses, Tuesday’s was gentle on particulars about this proposal. We’ll most likely have to attend till subsequent week, when the governor is anticipated to roll out her govt price range proposals, to get into the weeds on what she envisions. (Until somebody desires to leak some invoice language?)
A spokesperson for the governor indicated that the proposal seeks to exempt a majority of housing initiatives from environmental overview, confirming a Wall Road Journal report from Monday night time.
That’s extra in step with Sen. Rachel Could’s invoice, dubbed the Sustainable Inexpensive Housing and Sprawl Prevention Act and first launched in 2021, which might exempt reasonably priced housing initiatives with fewer than 1,000 items from SEQRA. “Inexpensive,” underneath the measure, can be outlined by the state’s housing regulator.
Hochul’s proposal goes additional, seemingly together with market-rate housing and sure infrastructure initiatives.
Environmental overview reform has lengthy been on the checklist of Yimby asks in New York. Prior to now two years, that checklist has gotten shorter, because the residential floor-area-ratio cap, parking necessities, member deference, accent dwelling items, the 50 p.c take a look at for Low-Earnings Housing Tax Credit and different insurance policies have been crossed off the checklist (some with asterisks indicating extra change is required).
Hochul’s environmental overview reform push comes after California exempted infill housing from its state environmental overview course of. The Senate permitted Could’s invoice final yr, however the Meeting didn’t comply with go well with. Whether or not Hochul can get the legislature on board with reform this yr stays to be seen.
New York’s current try and comply with California’s lead on one other Yimby coverage, a model of builder’s treatment, failed in 2023. Hochul hasn’t revived the proposal, sticking as a substitute with an opt-in carrot-over-stick method that ties state funding to localities passing pro-housing insurance policies.
What we’re eager about: Did the Verizon outage have an effect on your capacity to work on Wednesday? Disrupt any offers? Ship a notice to/commiserate with me at kathryn@therealdeal.com.
A factor we’ve discovered: New Jersey Gov. Phil Murphy vetoed a invoice that will have made it simpler for localities to import woodchucks from different states as a part of Groundhog Day celebrations, citing danger of introducing new strains of rabies, the New York Times reports. The veto means Milltown’s Groundhog Day celebration will as soon as once more be with no essential attraction.
Elsewhere in New York…
— Greater than 10,000 Verizon clients in New York Metropolis misplaced cellphone service as the corporate skilled a nationwide outage, Gothamist reports. “We’re conscious of a problem impacting wi-fi voice and information companies for some clients,” the corporate posted on social media. “Our engineers are engaged and are working to determine and resolve the difficulty shortly.”
— Metropolis Council Speaker Julie Menin plans to faucet Council member Nantasha Williams as deputy speaker and Council Member Shaun Abreu as majority chief, City & State reports.
— ICYMI, Gov. Kathy Hochul’s coverage agenda this yr features a proposal to scrap an outdated state regulation that bars dancing in eating places.
Closing Time
Residential: The highest residential deal recorded Wednesday was $5.8 million for a 2,800-square-foot condominium unit at 171 West 57th Road within the Plaza District. Alexander Glibbery with We R New York had the listing.
Industrial: The highest business deal recorded was $53 million for a improvement web site at 75-83 Nassau Road within the Monetary District. Lexin Capital bought the land to Montgomery Road Companions.
New to the Market: The best worth for a residential property hitting the market was $23.5 million for an 8,159-square-foot townhouse at 146 Waverly Place within the West Village. The Hudson Advisory Crew at Compass has the itemizing.
Breaking Floor: The biggest new constructing allow filed was for a proposed 99,411-square-foot, 16-story mixed-use venture at 918 Atlantic Avenue in Prospect Heights. Christopher Fogarty of Fogarty Finger filed the allow on behalf of Elie Parente of EMP Capital Group.
— Matthew Elo
