Close Menu
Fin Street NewsFin Street News
  • Home
  • Business
  • Finance
    • Banking
    • Stocks
    • Commodities & Futures
    • ETFs & Mutual Funds
    • Funds
    • Currencies
    • Crypto
  • Markets
  • Investing
  • Personal Finance
    • Loans
    • Credit Cards
    • Dept Management
    • Retirement
    • Mortgages
    • Saving
    • Taxes
  • Fintech

Subscribe to Updates

Get the latest finance and business news and updates directly to your inbox.

Trending
Apple takes on YouTube and Spotify with a new video podcast push

Apple takes on YouTube and Spotify with a new video podcast push

February 16, 2026
Dollar Tree opens nearly half of new stores in affluent areas

Dollar Tree opens nearly half of new stores in affluent areas

February 16, 2026
NYC’s outgoing planner says Mamdani’s proposed rent freeze must avoid ‘pushing buildings into distress’

NYC’s outgoing planner says Mamdani’s proposed rent freeze must avoid ‘pushing buildings into distress’

February 16, 2026
Nvidia: A complete guide to the hardware company behind the AI boom

Nvidia: A complete guide to the hardware company behind the AI boom

February 16, 2026
45-Year-Old Ted Rodrigue Was Intelligent, Articulate — and Homeless. Could a No-Strings-Attached Gift of 0,000 Change His Life?

45-Year-Old Ted Rodrigue Was Intelligent, Articulate — and Homeless. Could a No-Strings-Attached Gift of $100,000 Change His Life?

February 16, 2026
Facebook X (Twitter) Instagram
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
February 16, 2026 6:13 pm EST
|
Facebook X (Twitter) Instagram
  Market Data
Fin Street NewsFin Street News
Newsletter Login
  • Home
  • Business
  • Finance
    • Banking
    • Stocks
    • Commodities & Futures
    • ETFs & Mutual Funds
    • Funds
    • Currencies
    • Crypto
  • Markets
  • Investing
  • Personal Finance
    • Loans
    • Credit Cards
    • Dept Management
    • Retirement
    • Mortgages
    • Saving
    • Taxes
  • Fintech
Fin Street NewsFin Street News
Home » NYC’s outgoing planner says Mamdani’s proposed rent freeze must avoid ‘pushing buildings into distress’
NYC’s outgoing planner says Mamdani’s proposed rent freeze must avoid ‘pushing buildings into distress’
Finance

NYC’s outgoing planner says Mamdani’s proposed rent freeze must avoid ‘pushing buildings into distress’

News RoomBy News RoomFebruary 16, 20261 ViewsNo Comments

In his four years as director of the New York City Department of Planning, Dan Garodnick oversaw one of the most sweeping changes to the city’s zoning rules in decades. The policy, called City of Yes, initiated a collection of revisions to boost housing, including updates that allow new apartment projects to add bulk used for affordable housing, homes to convert basements or add backyard cottages as accessory dwellings, and more office buildings to be converted into residential space.

Mayor Zohran Mamdani won the election last year on bold campaign pledges to deliver solutions for a worsening housing and affordability crisis. Mamdani’s promises to freeze rents, however, could further dissuade owners of aging rent regulated apartment buildings — who were already dealt a financial blow by a 2019 change to the rent regulation rules — from performing needed maintenance.

Mamdani’s mayoralty will be a test whether politicians across the country can lower housing costs without destabilizing the landlords that build and maintain most of the housing stock.

Garodnick, who will soon leave his post, spoke with Business Insider to look back on his accomplishments and offer advice to the new mayor. The conversation has been edited for length and clarity.

The real estate community has not been excited about Mamdani. What would you tell them?

Every time Daniel publishes a story, you’ll get an alert straight to your inbox!

Stay connected to Daniel and get more of their work as it publishes.

I would encourage them to give him a chance to lay out his agenda for housing and economic development and make their determinations.

What advice did you give him? Did you give him any?

Focus on delivering results and making sure that the government can execute ideas at scale. And also that the city council is meant to be an active counterbalance to the mayor, and that is something he should embrace and to give elected officials the tools they need to be able to say yes to hard things.

Do you think Mamdani will freeze regulated rents? Do you think that’s the right move?

Yes. I think that’s a top priority for the mayor, and I think people should expect to see that.

I think it’s an important signal to renters that the mayor is looking out for them and their interests. I also think it’s important to strike a balance here and make sure that it does not have unintended consequences and push buildings into distress.

Landlords of regulated buildings are saying their properties are falling apart, and they have no incentive to fix them. Do they need money from rent increases?

It’s important that the city and state make sure that its policies not only protect tenants from unreasonable rent increases and abuse from landlords, but also that the living conditions and the health and safety of these buildings is satisfactory too. We need to make sure that we’re striking the right balance here.

After four years at the agency, how does it feel to leave?

We enabled through zoning changes in four years, more homes than had been enabled in the prior 20 years combined.

You have rules that were written 60 years ago that had the effect of limiting too narrowly where and how much housing you can build. It is no surprise then that you would see many neighborhoods of the city producing little or no house. City of Yes was designed to enable a little more housing in every neighborhood of the city.

The real estate community says that may be impressive, but it’s still not enough to get housing built at scale.

There is no question that while zoning sticks around for long periods of time, there are other factors like the interest rate environments, the existence of a tax incentive, or even any single property owner’s appetite for risk or access to capital.

There is often substantial pushback against ambitious rezonings. What does that say about the public’s reception to housing development at scale?

Change is hard, and people are rightfully skeptical. We focused relentlessly on clarity, plain language explanations, visual tools, multilingual outreach, and engagement with communities across the city. We met people where they were, and we explained how outdated rules affect everyday life and made the case that the housing crisis isn’t inevitable.

What is the political feasibility in your mind of dramatic solutions to the housing crisis, specifically large-scale development?

We wanted to strike a balance here that was historic in its scale, but also something that we believed we could build support for. That is always going to be a balance. I will note that the voters of New York City recently approved charter revisions, which will make it easier in some cases to allow for housing to be approved more quickly and shows that there’s an appetite for the city, the mayor, the city council, to continue to take some big swings at this problem.

What do you think those big swings will be?

Mayor Mamdani has been clear about his interest in creating more housing in New York City and has cited City of Yes as an important template to build on. As he’s shaping his agenda, I would expect you might see some exciting new initiatives that continue to move the ball forward.



Read the full article here

avoid buildings distress freeze Mamdanis NYCs outgoing planner proposed pushing rent
Share. Facebook Twitter LinkedIn Telegram WhatsApp Email

Keep Reading

I work at my mother’s company alongside my sister. Working in the family business isn’t always easy, but I love the job security.

I work at my mother’s company alongside my sister. Working in the family business isn’t always easy, but I love the job security.

20 big cities that will become affordable in 2026, according to Zillow

20 big cities that will become affordable in 2026, according to Zillow

I’ve been running a business with my childhood best friend. We set commandments to make sure our relationship always comes first.

I’ve been running a business with my childhood best friend. We set commandments to make sure our relationship always comes first.

OpenAI’s OpenClaw hire sparks praise, memes, and rivalry chatter

OpenAI’s OpenClaw hire sparks praise, memes, and rivalry chatter

Everything we know about Christian Lee Hutson, who married ‘Stranger Things’ star Maya Hawke in surprise Valentine’s Day wedding

Everything we know about Christian Lee Hutson, who married ‘Stranger Things’ star Maya Hawke in surprise Valentine’s Day wedding

Inside the career rise of Sundar Pichai, Google and Alphabet’s current CEO

Inside the career rise of Sundar Pichai, Google and Alphabet’s current CEO

After living in Denver for 6 years, I decided it wasn’t for me. Now, it’s one of my favorite places to visit.

After living in Denver for 6 years, I decided it wasn’t for me. Now, it’s one of my favorite places to visit.

My family gave away our TV before our cross-country move. It’s been 5 years, and we still haven’t replaced it.

My family gave away our TV before our cross-country move. It’s been 5 years, and we still haven’t replaced it.

‘Big Short’ investor Michael Burry was an enigma. Now he’s an open book.

‘Big Short’ investor Michael Burry was an enigma. Now he’s an open book.

Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Dollar Tree opens nearly half of new stores in affluent areas

Dollar Tree opens nearly half of new stores in affluent areas

February 16, 2026
NYC’s outgoing planner says Mamdani’s proposed rent freeze must avoid ‘pushing buildings into distress’

NYC’s outgoing planner says Mamdani’s proposed rent freeze must avoid ‘pushing buildings into distress’

February 16, 2026
Nvidia: A complete guide to the hardware company behind the AI boom

Nvidia: A complete guide to the hardware company behind the AI boom

February 16, 2026
45-Year-Old Ted Rodrigue Was Intelligent, Articulate — and Homeless. Could a No-Strings-Attached Gift of 0,000 Change His Life?

45-Year-Old Ted Rodrigue Was Intelligent, Articulate — and Homeless. Could a No-Strings-Attached Gift of $100,000 Change His Life?

February 16, 2026
I work at my mother’s company alongside my sister. Working in the family business isn’t always easy, but I love the job security.

I work at my mother’s company alongside my sister. Working in the family business isn’t always easy, but I love the job security.

February 16, 2026

Latest News

Did you miss Amtrak’s viral ‘Trak Suit’ launch? You may get another shot.

Did you miss Amtrak’s viral ‘Trak Suit’ launch? You may get another shot.

February 16, 2026
Here Are the Days You Can Get Free Admission to National Parks in 2026

Here Are the Days You Can Get Free Admission to National Parks in 2026

February 16, 2026
20 big cities that will become affordable in 2026, according to Zillow

20 big cities that will become affordable in 2026, according to Zillow

February 16, 2026

Subscribe to News

Get the latest finance and business news and updates directly to your inbox.

Advertisement
Demo
Facebook X (Twitter) Pinterest TikTok Instagram
2026 © Prices.com LLC. All Rights Reserved.
  • Privacy Policy
  • Terms
  • For Advertisers
  • Contact

Type above and press Enter to search. Press Esc to cancel.