Homix Newsroom
Developments across New York City, Long Island, New Jersey, and the surrounding market that materially affect buyers, sellers, renters, and owners.
Long Island developers and economic-development officials say PILOT tax agreements are often central to multifamily project financing, while critics question whether industrial development agencies should subsidize housing and whether the benefits deliver enough below-market homes.
New York City has made embodied carbon eligible under its C-PACE program, broadening a potential long-term financing source for office-to-residential reuse projects. The change comes as Manhattan’s conversion pipeline faces rising costs, engineering scrutiny and difficult funding conditions.
After a column-buckling incident at a Manhattan office-to-residential project, the Department of Buildings inspected 180 construction sites. The agency reported 65 violations at 38 sites, issued 19 stop-work orders and said it found no structural conditions posing imminent danger to public safety.
A sponsored Bisnow interview with The Kulka Group CEO Devin Kulka highlights rezoning, public hearings, community engagement and financing as central hurdles for Long Island development, particularly multifamily projects.
New York City selected Slate Property Group, The Hudson Cos. and Volunteers of America for The Orion, a proposed 980-unit mixed-use development on a city-owned Long Island City site. Construction is expected to begin in the next few years, while financing and regulatory approvals remain outstanding.
