NYC basement apartments up for debate at City Council hearing

An East New York pilot program will be up for discussion at a
City Council hearing on Tuesday

The city is moving forward with its plans to create livable
basement apartments, Crain’s
has learned
. On Tuesday, the New York City Council will hold
its first hearing
on a pilot program
set to launch in East New York, that would
create more affordable housing in the form of these basement
apartments, and give landlords incentives like tax breaks to bring
these basement units up to code.

The legislation to create this pilot program is being introduced
by City Council member Brad Lander, who hopes that a successful
pilot program in East New York will eventually help in citywide
implementation. Lander told Crain’s that nearly 100,000 New
Yorkers live in basement apartments at present, but most of the
apartments aren’t up to fire and safety codes.

The city hopes that the pilot will help bring these spaces up to
code, while also creating affordable housing as the city reels from

an affordable housing crisis
. Changes might include adding
sprinkler systems and creating an additional exit. In order to be
eligible however, the basement unit would need to have at least
half of its floor-to-ceiling height above ground. The Mayor has
also contributed nearly $12 million for this pilot program, but the
administration is still in the process of selecting a non-profit
that will oversee the running of the program.

Source: FS – All – Real Estate News 1
NYC basement apartments up for debate at City Council hearing