Mayor Eric Adams, Governor Kathy Hochul, City Council Speaker Adrienne Adams, and other leaders have celebrated a monumental victory today as the New York City Council passed the “City of Yes for Housing Opportunity” proposal, marking the most significant pro-housing legislation in the city’s history.

This sweeping zoning reform aims to create 80,000 new homes over the next 15 years and invest $5 billion in critical infrastructure, offering a long-awaited solution to the city’s ongoing housing crisis.

“We showed the nation that government can still be bold and brave by passing the most pro-housing piece of legislation in city history,” Mayor Eric Adams declared. “City of Yes will forever change the course of our city’s history by bringing the American Dream closer to reality for New Yorkers — and it all started by saying ‘yes.’”

The proposal seeks to address New York’s dire housing shortage, exacerbated by a low 1.4 percent rental vacancy rate. The reforms include creating the Universal Affordability Preference (UAP), legalizing small accessory dwelling units (ADUs), and permitting transit-oriented development to boost housing creation while maintaining neighborhood character.

Governor Hochul reinforced the need for continued action, pledging $1 billion in funding for housing projects. “Our only shot at solving New York’s affordability crisis is by building more housing,” she stated. “That’s why it’s critical for New York City to move forward with zoning reforms that will create more of the homes New Yorkers so desperately need.”

Speaker Adrienne Adams emphasized the positive impact on both homeowners and tenants, noting, “By taking a major step to address the housing shortage, while supporting existing homeowners and tenants, making housing more affordable, expanding homeownership opportunities, and strengthening the infrastructure of neighborhoods, we are advancing a safer and stronger city.”

The proposal also includes innovative measures like rolling back parking mandates in high-density areas, creating high-density zoning districts, and making it easier to convert underutilized office spaces into housing. These changes, combined with the $5 billion investment in infrastructure updates, are expected to reshape New York’s housing landscape for years to come.

“Today marks an important step in New York’s push to build more homes and lower prices, shifting the balance of power away from landlords and back toward renters,” said Annemarie Gray, executive director of Open New York.