Sentences with phrase «rezoning area averaged»
A market study commissioned by the NYC Economic Development Corporation found that air - rights prices in the rezoning area averaged $ 301 in 2015 dollars, but the de Blasio administration is pushing for the fixed minimum price out of concern that without it, developers could artificially depress the value of air rights, according to The Real Deal.
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Currently it mandates developers who build in rezoned areas of the city pick from one of three options for affordable housing: 25 percent of their units rented to those making, on average, 60 percent of the Area Median Income, 30 percent at 80 percent of the AMI or 30 percent at 120 percent.