NEW YORK CITY-The City Council voted to change city zoning laws to maintain low-priced housing in the West Side and block new projects in the Garment District, Hudson Yards and West Chelsea.
The modification in the amendment will limit developers or landlords from modifying more than 20% of multifamily buildings in the neighborhood of West Side. As per the rules, only renovations are allowed but not demolitions. About 1,500 units from 108 buildings will get affected by the new rule. For the full story, go to Wall Street Journal.
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