In a bit of a role reversal, New York City is taking a somewhat laid-back approach to its endorsement of accessory dwelling units as a useful option in the housing expansion tool kit.
The do-it-yourself additions to single-family lots, more commonly known as Granny Flats, have the full backing of the state in California, which is trying to encourage just about everyone in the Golden State to make room for Grandma in the back yard.
New York last week dipped its toe in the water on Granny Flats with a pilot program that offers a generous incentive of up to $400K to New York City residents living in a single-family home to offset the cost of adding a unit over the garage and in an expanded woodshed.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
