Five Bold Steps to Build 700,000 New Homes in NYC
Posted Nov. 10, 2026 11:33AM ET read more Bloomberg
New York City’s housing crisis demands an ambitious response. Building 700,000 new homes will require bold action, thoughtful planning, and cooperation across every level of government and community.
First, the city should allow more homes near subway lines and major transit hubs. Second, outdated zoning rules should be modernized to make it easier to add housing in neighborhoods with existing infrastructure. Third, vacant lots and underused public land should be transformed into affordable homes.
The city should also speed up permitting while maintaining strong safety and environmental standards. Finally, new development must include protections for current residents, including affordable housing requirements and support for tenants.
With a clear plan and sustained commitment, New York can create more homes, strengthen neighborhoods, and ensure that people of different incomes have a place to live.
Five Bold Steps to Build 700,000 New Homes in NYC
New York City’s housing shortage calls for a response on a scale that matches the challenge. Creating 700,000 new homes would require coordinated action from city and state governments, developers, transit agencies, community organizations, and residents. It would also demand policies that expand housing while protecting affordability, neighborhood stability, safety, and quality of life.
Here are five practical steps that could help make that goal possible.
1. Build More Homes Near Transit
The city can add housing efficiently by focusing new development near subway stations, commuter-rail stops, and major bus corridors. These areas already have transportation infrastructure, allowing more residents to live near jobs, schools, and services without relying as heavily on cars.
Transit-oriented development could include apartment buildings, mixed-use projects, and affordable homes on underused parcels. To succeed, however, new construction should be paired with investments in transit capacity, sidewalks, accessibility, parks, and other neighborhood services.
2. Modernize Outdated Zoning Rules
Many of the city’s zoning regulations were created decades ago and limit housing growth in areas that already have streets, utilities, and public services. Updating these rules could allow more homes through measures such as increased building heights, reduced parking requirements, and greater flexibility for converting commercial or industrial properties.
Zoning reform should be guided by clear standards for building design, public space, infrastructure, and environmental performance. A predictable framework would also help reduce uncertainty for builders and make it easier to produce a wider range of housing types.
3. Transform Vacant and Underused Land
New York has vacant lots, surface parking areas, obsolete facilities, and underused public properties that could be converted into housing. Public agencies can identify these sites, resolve ownership or environmental issues, and make them available for development.
Partnerships with nonprofit and private developers could help create mixed-income communities, including permanently affordable homes. Projects on public land should include transparent selection processes, long-term affordability protections, and planning for schools, open space, transportation, and other community needs.
4. Speed Up Permitting While Protecting Standards
Lengthy and unpredictable approval processes can increase construction costs and delay much-needed housing. The city could streamline permitting by expanding online applications, coordinating reviews across agencies, establishing clear timelines, and creating faster pathways for projects that meet established zoning and affordability requirements.
Efficiency should not come at the expense of safety or environmental protections. Strong building codes, inspections, accessibility rules, and climate-resilience standards remain essential. The goal is to eliminate unnecessary delays while preserving rigorous oversight.
5. Protect Current Residents and Expand Affordability
Housing growth must benefit existing residents as well as newcomers. New development should include meaningful affordable-housing requirements and protections against displacement. Depending on the neighborhood and project, these could include income-restricted apartments, tenant legal assistance, right-to-return policies, and support for residents facing renovation-related disruption.
Affordability should be measured against the incomes of local households, not just citywide averages. The city should also support homeownership opportunities, preserve existing affordable buildings, and invest in neighborhoods experiencing rapid change.
A Coordinated Path Forward
Building 700,000 homes would be a long-term undertaking, not a single construction program. Success would depend on sustained leadership, reliable funding, community participation, and cooperation among multiple levels of government.
By concentrating growth near transit, updating zoning, reusing underdeveloped land, improving approvals, and protecting residents, New York City could expand its housing supply while creating healthier and more inclusive neighborhoods. The challenge is substantial, but a clear and coordinated strategy can turn an ambitious target into measurable progress.
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