Developers could appeal city’s mandatory inclusionary housing

From left: Melissa Mark-Viverito and Bill de Blasio Bill de Blasio isn’t the most popular guy within the city’s real estate circles, but the mayor’s proposal requiring developers to include affordable housing units at market-rate developments may include a legislative “escape hatch” for developers. The “mandatory inclusionary housing” policy is meeting opposition as it moves through the public review process, but should the City Council approve it, developers would have to make up to one-third of residential units at projects affordable — if those projects get a city zoning variance or allowances for more floor space. (more…)

Source: The Real Deal