New York builders may have to keep 25% of homes for low-income residents

New York

DEVELOPERS who want to build in certain areas of New York City would be required for the first time to set aside at least 25 per cent of their units for lower-income residents under proposed zoning rules officially released this week by the de Blasio administration.

The requirement, known as mandatory inclusionary housing, would first be applied to East New York in Brooklyn, one of 15 areas the city has singled out for taller buildings and more density to help meet Mayor Bill de Blasio's goal of adding 80,000 new affordable units to the city through 2024.