Mayor Zohran Mamdani unveils new orders to tackle NYC housing crisis on Day 1.

Summary:

NYC Mayor Zohran Mamdani just signed a set of housing-related executive orders.

  • The city plans to step into the bankruptcy proceedings of Pinnacle Realty, pointing to thousands of violations and complaints as well as money owed to the city. Mamdani said the city plans to “seek immediate relief and improve living conditions for Pinnacle tenants.”
  • One new task force, LIFT (Land Inventory Fast Track), will look for city-owned land that can be used for housing, with a report due in 2026
  • Another new task force, SPEED (Streamlining Procedures to Expedite Equitable Development), is aimed at cutting red tape in permitting and approvals, focused on making it more affordable to build and easier to access housing across NYC
  • mycodesucks@lemmy.world
    78·
    9 days ago

    Wait, wait, wait…

    A company screws up and ruins itself, and the government concerns itself with the PEOPLE who will be screwed by the irresponsible actions of an unaccountable company, instead of socializing the company’s losses and leaving the tenants to fend for themselves?

    I never thought I’d live to see it happen.