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As Tax Break Sunsets, Developers Rush In

Mayor Bill de Blasio may have lost some battles over his affordable-housing agenda in Albany, but the struggle has contributed to a boom in residential construction in New York City. The threatened expiration of the developers’ property-tax break known as 421-a triggered a rush to beat the deadline, creating the city’s biggest surge in building permits in seven years, according to data compiled by the U.S. Census Bureau. “You are seeing a lot of good come out of it,” said Gene Kaufman, an architect, of the rush by developers to meet the deadline. Read more at: [Wall Street Journal] or [Download Article]