On June 12, the Zoning Board of Appeals rejected an application for a height variance on the project by a 4-0 vote.
The significant shelter component, comprising more than one-third of the measure's weight, increased by 3.9%. If shelter inflation were to ease to 2% or even 3%, overall inflation would already be at a comfort point for the Federal Reserve.
Small investors purchased 361,900 homes in 2024, a 3.7% year-over-year increase, while large investor purchases decreased by 8.7% to 132,500 homes, the lowest level since 2018.
This joint decision by the event sponsors reflects their shared commitment to delivering an event that offers the greatest value, insight, and impact for all participants.
The board action brings greater clarity to Standard of Practice 10-5, which prohibits members of NAR from harassing any person or persons based on race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity.
Some of the project highlights include the construction of a five-story facility with each floor consisting of approximately 600,000 square feet of space.
Part of the delay in recovery is because the Federal Reserve has changed its outlook and appears to be on pause for a longer period.
NAR remains committed to advocating for provisions that expand opportunity, support homeownership, strengthen communities nationwide, and put the American dream within reach for more families.
The office buildings were all built in the 1970s and early 1980s and are currently approximately 50% vacant.
For decades, community and state leaders have failed to harness the aspiration and boldness needed to break through barriers and build the future New Yorkers deserve.
Dr. Meadows will serve as a vital bridge between HGAR’s Realtor members and the elected officials and stakeholders shaping housing policy in the Bronx and New York City.
“At this critical stage of the housing market, it is all about mortgage rates,” said NAR Chief Economist Lawrence Yun.
The report warns that if Westchester fails to address its growing housing shortfall, the county could lose between 8,400 to 12,000 jobs annually and $533 million to $742 million in annual earnings.
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