T
he City Council is set to vote on the City of Yes for Housing Opportunity, a comprehensive text amendment that aims to add over 80,000 apartments to the city within the next 15 years. Here's a breakdown of its key elements:

    Parking requirements will be divided into three zones: one with minimal changes, another with reduced parking minimums, and a third where they are eliminated entirely.

    Accessory dwelling units (ADUs) will be legalized but subject to restrictions, including size limits and prohibitions in certain areas like historic districts or flood-prone zones.

    Transit-oriented development provisions allow for apartment buildings near transit hubs, with at least 20% of housing set aside for low-income residents. Town center developments also require affordability, but are barred from blocks with mostly single-family homes.

    The FAR cap has been lifted by state lawmakers, enabling the city to create new residential zoning districts that permit larger buildings. City of Yes allows these zones to be mapped, but areas must still be rezoned for construction.

    Universal Affordability Preference replaces Voluntary Inclusionary Housing and provides a 20% density bonus for projects with permanently affordable housing. The initial version phased out offsite affordable units, but the Council has reinstated this option in certain districts.

    Mandatory Inclusionary Housing options will also change under City of Yes, allowing the Council to mandate "deep affordability" without requiring other options.

    Office-to-residential conversions will be allowed for buildings constructed after 1990 citywide, rather than just Lower Manhattan. The sliver law will still apply to narrow lots in high-density districts, but some parcels will be exempt from its height restrictions.