Overview
- Mayor Zohran Mamdani announced the SPEED package on Wednesday, saying it trims roughly eight months from most affordable projects and up to two years for those needing zoning changes.
- The plan targets pre-certification for zoning actions, cutting the typical timeline from about two years to roughly six months.
- Permitting for new construction and office-to-residential conversions would drop by about five months, according to city officials.
- The lease-up phase will be overhauled through NYC Housing Connect, the city’s online housing lottery, with a goal of moving from construction finish to occupancy in under 100 days as HPD shortens application windows to 21 days and streamlines eligibility checks.
- Built from about 500 recommendations in a 36-page task force report, the program can largely proceed without new City Council legislation, and major real estate groups have endorsed the rollout as Council leaders weigh a response.