Eric Adams’ Top Challenges as New York Mayor Include Real Estate

Thursday, November 4, 2021

Ken Fisher discusses plans that Eric Adams, the new mayor of New York City has to increase the housing, zoning, and quality of life issues confronting the city in Commercial Observer. Adams is viewed as more business friendly than his predecessor and will build plans from the ground up. Some issues the new mayor will address are high unemployment in multiple sectors, housing insecurity, historic amounts of empty office space, a high prevalence of subway crimes, the struggling hospitality sector, and conflicts with first responders over vaccine mandates.

Although the new mayors’ intentions seem to be good, his plans for creating more housing and development are unclear. Real estate insiders believe Adams will be more pro-development than in his tenure as borough president, where he had extensive notes for the de Blasio administration’s East New York, Brooklyn, zoning but was less engaged, while still supportive, of Kings County’s Industry City and Gowanus rezoning proposals.

According to Ken, “He [Adams] will want the real estate community to build not just in high-value neighborhoods, When he’s the mayor he’s going to encourage development in areas like the Gowanus, but he’ll expect the real estate community to make more investment in underserved neighborhoods.”

To read the full article, click here.


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