The city’s Department of Housing Preservation and Development this week approved a rule change that bars developers receiving 421a from generating off-site inclusionary housing. HPD proposed the rule change in August, asserting that the new 421a “undermines” the propose of the city’s inclusionary housing program. The rule change goes into effect Oct. 13. Now, developers receiving 421a will need to keep density bonuses generated through the inclusionary housing program onsite. A major reason for the […]