Brief
The Developers Trying to Make New York’s 485-x Multifamily Incentive Work
It’s become fashionable in New York City commercial real estate to bash the state’s 485-x program, which provides tax incentives for new residential development in certain areas of the five boroughs i
Summary
It’s become fashionable in New York City commercial real estate to bash the state’s 485-x program, which provides tax incentives for new residential development in certain areas of the five boroughs in exchange for including affordable housing.
The criticism revolves around 485-x’s higher construction wage requirements in much of Manhattan and large swaths of the […]
Source
- Commercial Observercommercialobserver.com
