The Mamdani administration is launching another list of prequalified developers.
On Wednesday, Mayor Zohran Mamdani announced the creation of the Neighborhood Builders program — a list of developers prequalified to bid on affordable housing projects on city-owned sites.
The mayor indicated that the roster will shave eight months off the 18 months that the city typically spends vetting and selecting developers through the requests for proposals process.
Developers on the list will be eligible to bid on housing projects at city-owned sites, including 784-800 Myrtle Avenue in Brooklyn, 1337 Jerome Avenue in the Bronx and 109-43 Farmers Boulevard in Queens. Those projects are expected to net 300 affordable units, including 100 homeownership units across the latter two.
The list will apply to other city-owned sites on a rolling basis, though the administration hopes to advance 1,000 new homes over the next two years.
The mayor referred to this list as a “fast track,” but it’s a version of something the city already does. The Department of Housing Preservation and Development maintains a number of prequalified lists, including those for minority- or women-owned businesses bidding on affordable housing projects and for companies that acquire and preserve affordable housing.
The Neighborhood Builders list is only eligible to nonprofits and M/WBEs. They can partner with for-profit firms on projects, however.
Responses to the request for qualifications to be placed on the list are due May 8.
The program joins other efforts to slash project timelines. For example, the administration has pledged to reduce the pre-certification timeline for projects entering the city’s land use review process if the state follows through on a proposal to exempt certain projects from environmental review. The city also proposed rules for figuring out where projects will qualify for the affordable housing fast track — a condensed land use review process, approved by voters in November, where projects can skip City Council review if located within community districts with the lowest rates of affordable housing development.
(This process is referred to, in the city charter, as the affordable housing fast track. The city also has the green fast track. Everything can’t be a fast track!)
In addition to potentially speeding up approvals of developers for building on city-owned sites, Neighborhood Builders is the latest example of the city giving priority to non-profit developers. For several years, the City Council has floated versions of a measure requiring the city to select not-for-profit developers to build affordable housing on city-owned land (unless none applied or were qualified).
What we’re thinking about: During a press conference Wednesday, the mayor reiterated that raising property taxes would be a “last resort” for closing the city’s multi-billion dollar deficit. He also noted that he’s “encouraged” by the conversations he’s been having with state lawmakers. Where will the state budget land on raising taxes to help the city cover its budget gap? Why were some people in the administration surprised, as reported by the New York Times, by the negative reaction to the mayor’s property tax hike proposal? In what world is that surprising? Send a note to kathryn@therealdeal.com.
A thing we’ve learned: The Department of Buildings is launching a plan examination training academy, Commissioner Ahmed Tigani said during a City Council hearing on Wednesday. Plan examiners review construction plans for compliance with building codes, zoning and other regulations. The program will be modeled after the agency’s inspector training academy and offer ongoing training to help keep examiners up to date on “changes to the vast regulatory landscape.”
Elsewhere in New York…
— Internal polling by Republican Bruce Blakeman’s campaign shows the gubernatorial contender trailing Gov. Kathy Hochul by nine points, City & State reports. Public polls still show Blakeman behind the incumbent governor by double digits. Hochul beat Republican Lee Zeldin in 2022 by a slim 6 points.
— The union representing non-tenure faculty members at New York University has reached a tentative agreement with the school over raises, benefits and other issues. The deal ends a strike that began Monday morning, the City reports. The deal grants a raise of at least $14,000 to each union member by the start of the next academic year, meaning that most members will earn more than $100,000.
— The first Rent Guidelines Board meeting is Thursday. A majority of the nine-member board is made up of Mamdani appointees. That doesn’t guarantee a rent freeze, but be sure to follow our coverage of how these discussions play out. First up: The board will be releasing its “Income and Expense Study” report.
Closing Time
Residential: The largest residential sale Wednesday was $11.9 million for a 2,649-square-foot sponsor-sale condominium unit at 217 West 57th Street in Midtown. Extell Marketing Group and Corcoran had the listing.
Commercial: The largest commercial sale was $161.5 million for the Boro Park Center for Rehabilitation & Healthcare at 4915 10th Avenue in Borough Park.
New to the Market: The highest price for a residential property hitting the market was $13 million for a 7,750-square-foot townhouse at 435 Henry Street in Cobble Hill. The current owners purchased the property as vacant land in 2013 for $1.05 million and the home was built in 2014. The Kantha Team with Serhant has the listing.
Breaking Ground: The largest new building permit filed was for a proposed 156,811-square-foot, 99-unit project at 140 Fulton Street in the Financial District. Fogarty Finger filed the permit on behalf of privately-held real estate investment firm Rivington Company.
— Matthew Elo
