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Eric Adams: “We put in place 457. It didn't do the same [as 421A].”

Featuring: Eric Adams, Democratic | Mayor of New York

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Former Mayor Eric Adams Talks Housing Policy, Crime & Life After City Hall | Coffee Talk

Published | Video Starts at 31:28

They really don't understand the economics of what it takes to build housing. And they don't understand and appreciate the risk that is associated with building housing. And so I, I, it's unfortunate that it expired. We put in place 457. It didn't do the same [as 421A]. I mean, that's such a, it was such a crazy thing because now people are not building to capacity simply because they don't want to. You know, how many people are building 99 units? (31:28–31:33)

CLAIM

Asserts that the 457 policy did not replicate the effects of 421A.

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