Everyone knew the switch from 421a to 485x would mean fewer large multifamily projects. Turns out, it’s not as bad as expected. It’s worse. The new tax abatement has not merely reduced the number of ...
Before 485x, projects with exactly 99 units were rare — only 13 were filed in 15 years. Last quarter alone, developers filed 21. Meanwhile, just 12 of 207 multifamily projects filed were for 100 or ...
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