Last week saw the introduction of Senate Bill S5469 which would have effectively remove the FAR restrictions for Residential Districts in New York City. Which sounds great right? More home rule for NYC, and possibly more residential buildings to satisfy our housing shortage.

But the Municipal Arts Society, which is full of smart people, is against this measure, and ultimately helped stall the bill. Why? MAS Opposes State Bill to Remove Residential FAR Cap:

The Bill would allow for significant new bulk in New York City’s high-density residential neighborhoods, especially Midtown and Lower Manhattan, but also the avenues in Manhattan south of 96th Street, Downtown Brooklyn, and the Queens waterfront. These neighborhoods are zoned for the maximum residential density currently permitted (R10 or R10 equivalent districts). If the residential FAR cap is removed, the City will look to upzone many of these areas to increase density, facilitating the production of more affordable housing under MIH. Adding new levels of density to what are some of the country’s most populated districts could overburden the city’s stressed infrastructure network and crowd out light and air for neighboring properties and public spaces.

MAS is concerned that the Bill will lead to the preference for residential development in mixed use districts, as residential use commands a much higher price per square foot, compared to other uses. This could work against the City’s stated goal of building new commercial uses in many of these high-density, mixed use districts. On a related note, the City has expressed interest in expanding Landmark Transfers district-wide in East Midtown; it is unclear the impacts the Bill will have on this market.

I don’t fully agree with this reading of the effects of this bill, but I am sympathetic to the development pressures this would unleash. Any further densification past R10 or equivalent districts should really come with methods to reduce abject speculation (some from foreign capital looking to hide or launder the source), reduce inequality, and add housing which isn’t aimed at the super-rich.