The forces shaping the next phase of development in New York.
For decades, New York’s influential real estate industry was able to achieve many of its policy goals by dipping into its deep pockets to back moderates in both parties. In recent years, however, tenant advocates have found their footing, electing progressive lawmakers, pressuring candidates to reject contributions from developers and pushing for legislative milestones such as the 2019 Housing Stability and Tenant Protection Act. With the ascension of Gov. Kathy Hochul and the election of New York City Mayor Eric Adams last year, the balance of power is in flux. Both elected officials have received significant campaign sums from the industry, suggesting they’ll chart a more moderate course than some activists are demanding. Meanwhile, elected officials have taken action to support tenants throughout the coronavirus pandemic. A growing number of lawmakers in Albany are getting behind the good cause eviction bill, which would make it harder for landlords to remove tenants.