MANDATORY INCLUSIONARY HOUSING IN NEW YORK CITY (2014-PRESENT)
In coordination with Mayor de Blasio’s ten-year affordable housing plan, the Department of Housing Preservation and Development, the Department of City Planning, and the Housing Development Corporation undertook a study of the effects of various a mandatory inclusionary housing (MIH) program structures in various neighborhoods. BJH was the key New York City subconsultant to the prime consultant – BAE Urban Economics – a California based specialist in MIH programming. The consultants examined structures requiring residential developments in the targeted areas to include a certain percent of affordable units. Analysis included the creation of an index for each neighborhood in the New York based on market conditions, a thorough investigation of development costs for a variety of multi-family housing prototypes, and the creation of a dynamic pro forma that included variability across markets and tax policy outcomes.