Mamdani has promised to create 200,000 units of new publicly subsidized, rent-stabilized housing and to fast-track projects consisting entirely of below-market-rate units. His campaign website claims that previous administrations relied “almost entirely” on the zoning code to encourage affordable housing. This is not so. For 40 years, New York has run the nation’s most ambitious and successful affordable-housing program, which rebuilt great swaths of the city using billions of dollars in municipal investment. Zoning changes to allow more housing construction are of recent vintage.
“Zohran and his advisers don’t know history and don’t have the slightest grasp of the numbers,” a former top city housing official told me. (He asked not to be identified because he still works with the city on affordable-housing projects.) Mamdani himself has proposed to triple the amount of money spent on housing in the city’s capital plan, pushing overall costs toward $100 billion over 10 years, which overshadows the estimated cost of his rivals’ plans. And he proposes to accomplish this with union labor, which the city’s Independent Budget Office found would add 23 percent to overall costs.
Meanwhile, Mamdani’s proposal to freeze rent in rent-stabilized units ignores fundamental problems: Landlords of much of the city’s rent-stabilized housing stock—including a number of respected nonprofit groups—cannot afford maintenance costs and debt service, the watchdog Citizens Budget Commission wrote recently. Because expenses are growing faster than rents in older buildings, many are “teetering on the edge of a ‘death spiral.’”
I reached out to Mamdani’s campaign for comment on these issues and have not yet heard back. His supporters seem unbothered by the obvious holes in his proposals. His tax increases sound righteous, a socialist holding the wealthy to account. But the state legislature and governor would have to sign off, and that is a very distant possibility.
I needed to pull this section out because, as many of you may know, my job involves dealing with affordable housing and development and whatnot for the city. And Michael Powell (the writer of this Atlantic piece) and the anonymous former housing official are fully correct, and Mamdani is fully wrong.
The city's zoning plan had not received any kind of comprehensive or focused update since the 1960s, and most construction and development (for housing and otherwise) goes through rezoning through either the UDAAP or ULURP process, which involves the city council specifically designating it a certain way to exempt or change the zoning requirements for the property and the project. It's not until Adams and the City of Yes this past year that we had a comprehensive update, and one with a specific detailed housing component.
In the last budget, the city allocated $2.2 billion in capital funding to the city's housing department for funding development of new and existing affordable housing, and that was a remarkably high amount. The state also allocates funding through the state-level housing and development agency (HCR). Additionally, there's a state-established public corporation (HDC) which also provides funding and support for affordable housing development through the issuance of bonds.
With affordable housing, NYC both builds new housing but also "preserves" or rehabs existing affordable housing. The amount of space available to build new housing is limited, the amount of city-owned property is even more so (which would allow for, in theory, quicker building) and there's numerous parties to the deals both internal to the city as well as external, not limited to the developer, banks, lawyers, architects, contractors etc.
Preserving existing affordable housing involves relocating tenants, identify issues ranging from cash flow, maintenance, arrears (rent and utility, both by tenants but also by the property owner) etc. These are some of the most difficult projects to manage, and often involve a lot of financing. These projects also involve more HUD-financing, and so working with HUD is a big part of the work.
All projects involve some kind of community meeting, and often require council member approval (both the council as a whole as well as the specific council members the projects are located in).
Due to climate change, there's resiliency and environmental concerns, particularly with projects that would be located in flood zones (hello to the Rockaways).
Certain projects, if they have federal funds, trigger Davis-Bacon requirements, meaning contractors and subcontractors must be paid at the "prevailing wage", which adds to the costs (and is essentially what using union labor on all projects would do).
There are multiple oversight agencies involved which scrutinize the use of city funds for these projects, from the Comptroller to the Office of Management and Budget, and they all have lengthy review periods and rather stringent oversight and firm jurisdiction, which slows projects and causes problems.
That's not getting into what other parts of the city's housing department do, from dealing with code violations to providing Section 8 vouchers and so forth.
What Mamdani is proposing doing would require not just a fuckton of money, but also a complete overhaul of city procurement and financing processes, administrative shakeups, and intense negotiations with the city council, the state legislature, and the governor. On top of dealing with other mayors and governors in surrounding states (transportation is another area similar to housing with lots of stumbles and challenges) and with the federal government being the way it is.













