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Dear New Yorkers,

Lawmakers are nearing a major housing deal in Albany.

The pact taking shape between the state legislature and the governor is likely to provide a larger increase in rents for landlords who renovate apartments, lift the limits on density in residential buildings in many areas of the city and provide renter protections.

A new tax break for rental buildings may be passed as well, since the administration of Mayor Eric Adams and real estate groups are reluctant to agree to any sweeping housing package without it.

Legislative leaders have been signaling elements of the package as they prepare their constituencies for what will be included in a compromise.

Those in touch with the legislative leaders and the governor’s office, who declined to be identified given the sensitivity of the negotiations, told THE CITY an agreement could be struck late this week or sometime in the next as part of the state’s new budget for the fiscal year that began April 1.

Read more about the details of the possible compromise here.

This month, THE CITY celebrates five years since we've launched!

We're honored so many New Yorkers rely on us to serve them the most vital news happening around the five boroughs.

To celebrate, we’re asking folks to donate $5 to support our journalism. Our members are the backbone of how we keep our journalism free for everyone to read. We hope you join them today!

Weather scoop by New York Metro Weather Thursday's Weather Rating: 3/10. Literally anything would be an improvement over yesterday, so we'll take it. Mostly cloudy and dreary with scattered showers, although the sun may peek out at times. High temps near 50 and blustery northwest winds. The vibes are still not great!

Our Other Top Stories

Yesterday, the City Council and the Association of Legislative Employees reached a tentative agreement for the union’s first-ever contract. The contract, if ratified by the union’s more than 380 members, would make it one of the first legislative staff unions in the country — and the first of its kind in New York. Council staff began organizing in 2016, after the Council voted to raise its own members’ pay by roughly $36,000 — about the annual salary of many overworked staffers; several incidents of staff harassment were another major impetus for organizing.  The fourth completely income-restricted apartment building in a high-end waterfront development in Greenpoint has opened its doors. Nearly 400 low- and middle-income families now get to call the building home, with rents ranging from $410 for the cheapest studio to $2,572 for the highest-tier two-bedroom. But in the midst of a housing crisis and record-low vacancy rates, getting into such an apartment is a rare opportunity: “If you're a low income person in this city, your chances of finding affordable housing anywhere in the city are near zero,” said Adolfo Carrión, commissioner of the city Department of Housing Preservation and Development.

Things To Do

Here’s what’s going on around the city this week.

Saturday, April 6: First Saturday, featuring a celebration of National Poetry Month with music, artists and activists. Free from 5 to 10 p.m. at the Brooklyn Museum. Saturday, April 6: Nature in the City, a celebration and exploration of the way NYC’s landscape has changed over time. Free with admission from 11 a.m. to 4 p.m. at the Museum of the City of New York. Monday, April 8: Watching the solar eclipse in town? Try Green-wood Cemetery, which is hosting a celebration with astronomers, music and food vendors or the many viewing events hosted by Urban Park Rangers across the boroughs, all starting at 1:30 p.m. Don’t forget your glasses!

THE KICKER: The Brooklyn Tower — the borough’s only “supertall” skyscraper, aka the Batman tower — is facing foreclosure after its developer defaulted on a $240 million loan.

Thanks, as always, for reading. Make it a great Thursday.

Love,

THE CITY

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