T
he City Council's hearings on the "City of Yes for Housing Opportunity" plan are just around the corner, with administration officials testifying on Monday and the public on Tuesday. The proposal is likely to undergo significant changes as Council Speaker Adrienne Adams has already expressed concerns that it doesn't go far enough. Expect affordability mandates and subsidy commitments from City Hall to be top priorities.

    Ahead of the hearings, a coalition led by the New York Housing Conference has launched a digital ad campaign to promote the plan, with an initial investment of $25,000. Rachel Fee, executive director of the conference, believes this is what New York City needs.

    The proposal's fate will likely be decided in the coming weeks, but one thing is certain: it won't remain untouched. Council members will push for changes, and Commissioner Raju Mann has already raised concerns about potential conflicts of interest in city office leases.

    In other news, Mayor Eric Adams has appointed Chauncey Parker as his new deputy mayor for public safety, replacing Philip Banks who resigned last week. Meanwhile, Buffalo Mayor Bryon Brown stepped down to become president and CEO of Western Regional Off-Track Betting, and Governor Kathy Hochul expressed support for Adams' efforts to reorganize his administration.

    Residential sales are also making headlines, with a $20 million townhouse sale on the Upper East Side being the priciest deal of the day. Commercial sales saw a $4.8 million mixed-use property in Turtle Bay change hands, while a 9,275-square-foot condominium at 20 West 53rd Street hit the market for $33.3 million.