This report is conducted monthly to highlight the current economic conditions pertinent to New York City. The report focuses on the state of the U.S. Economy, financial markets, inflation, New York City labor markets, and commercial and residential real estate.
74 Wallabout LLC submitted an application for a Zoning Map amendment to rezone one block in South Williamsburg, Brooklyn. This will help facilitate the development of a mixed-use building and community facility on the site, which would be used as residential and retail space.
The Department of Housing Preservation and Development and the Department of Parks and Recreation submitted an application for an amendment to the Zoning Map, which would change and establish districts within a park in Staten Island. This will facilitate the development of single-family homes. The applications, C 060496 HAR and C 060494 MMR, are being considered concurrently with this application.
The Department of Housing Preservation and Development and the Department of Parks and Recreation submitted an application for an amendment to the City Map, which would facilitate the disposition of city-owned, single-family homes in Staten Island. The applications, C 060496 HAR and C 060495 MMR, are being considered concurrently with this application.
The Department of Housing Preservation and Development submitted an application for an Urban Development Action Area designation, project approval and disposition of city-owned property for the property located at 272-286 Cornelia Avenue, Staten Island. This will facilitate the disposition of single-family homes. The applications, C 060494 MMR and C 060495 ZMR, are being considered concurrently with this application.
From an audit conducted on the Department of Housing Preservation and Development (HPD), it was found that the HPD needs to improve its controls over the housing lottery process. Ineligible applicants are participating in the lottery, making it unfair and unreliable. Recommendations have been made to rectify these issues.