J-51 Tax Break Extended, Affordable Housing Push Continues

The state budget introduces a revived J-51 tax break, now covering 100% of rehabilitation costs, but fails to extend eligibility to rent-stabilized buildings. The New York Apartment Association expresses disappointment, while the city pushes forward with rezoning plans in Brooklyn and the Bronx to create more housing in transit-rich areas. The city also approves its first housing project using a new fast-track review process, aiming to speed up affordable housing developments. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/dd582b067ce086ba