Navigating NYC’s Evolving Development Landscape: Updated Resources on New Tax Incentives and Zoning Reforms

New York City’s development environment is entering a transformative era. With newly enacted property tax incentives—such as 467-m and 485-x—and sweeping zoning amendments including City of Yes and the Universal Affordability Preference (UAP), the rules shaping both residential and non-residential projects have changed significantly.

To help owners, developers, lenders, and stakeholders understand this new landscape, our firm’s Tax Incentives & Affordable Housing practice pages have been fully updated with detailed, practical information on these programs and policy shifts.  You can explore these resources here.

What’s New: A Brief Overview

✔ New Property Tax Incentives
Programs such as 467-m and 485-x introduce powerful tools to support housing creation, office-to-residential conversions, and other development initiatives. These incentives are designed to make projects more financially viable while supporting long-term affordability.

✔ Modernized Zoning Framework
With City of Yes and UAP, NYC is moving toward a more flexible, growth-oriented zoning structure—one that encourages new housing, adaptive reuse, and innovative mixed-use development. Understanding these changes is essential for structuring projects that align with both the regulatory environment and market demand.

How We Support Your Projects

At Rosenberg & Estis, P.C., my colleagues and I advise clients across all facets of development, transactions, and financing involving tax incentives, affordable housing programs, and zoning strategy. As NYC’s largest real-estate–only law firm, we are uniquely positioned to provide:

• Deep experience with the city’s evolving incentive frameworks
• Strategic guidance on entitlement and compliance
• Integrated support across litigation, transactional, and administrative-law practices
• Practical, informed insight built on 50 years of real-estate focus in New York

Whether you are exploring a new development, considering an office-to-residential conversion, evaluating financing options, or navigating incentive requirements, we are here to help.

If you’d like to discuss how these updated programs may impact your current or future NYC projects, please feel free to reach out to us.