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New York City slated to approve building of 80,000 new homes as crisis prevails

New York City is likely to approve a plan Thursday that will help to address the city’s housing crisis.

The plan will result in some of the most significant zoning changes in decades that could make way for 80,000 new homes in the next 15 years.

New York City is considered one of the most expensive cities in the country where rents have skyrocketed and vacancy rates are at historic lows in half a century.

The plan is slated to pass by a slim majority by City Hall after months of heated negotiations.

The plan, known as City of Yes, has been a top priority for Mayor Eric Adams’ administration.

Opposition was particularly strong in neighborhoods in Staten Island and Queens that boast many single-family homes.

Many residents in those areas were against the building of new high-rise apartments.

Mitchell Moss, a professor of urban policy at New York University, said of the plan: “We’ve had a lost decade of housing development in New York City, and this is the start of changing that. We have to keep going.”

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