Mamdani urges real estate leaders to prioritize affordable housing as concerns grow over homeless encampments in the community.

Mayor-elect Zohran Mamdani convened a meeting with leaders from the real estate and finance sectors on Tuesday morning to strategize on advancing his ambitious housing agenda. This meeting comes amid ongoing controversy regarding his opposition to the current administration’s policy of clearing homeless encampments from the streets of New York City, a topic that has drawn significant public and political scrutiny.

Mamdani’s political campaign gained momentum largely due to a strong focus on making New York City more affordable. His plan includes increasing the supply of affordable housing and implementing a rent freeze for stabilized units. During the Hudson Square meeting, he emphasized the critical need to expedite the process of placing New Yorkers into affordable housing. The urgency of this initiative is underscored by his belief that a faster turnaround in filling vacant units could significantly reduce the number of individuals living on the streets.

The debate surrounding Mamdani’s opposition to homeless encampment sweeps flared over the weekend, with Governor Kathy Hochul voicing support for the practice. However, the matter did not arise during the meeting, as confirmed by Kathy Wylde, the President and CEO of the Partnership for the City of New York. Mamdani reiterated his view that clearing encampments is not a viable solution. Instead, he advocates for connecting individuals experiencing homelessness with suitable housing options.

Mamdani’s approach includes a commitment to improving shelter conditions to make them more appealing to those currently sleeping outdoors. This is part of a broader strategy to address homelessness in a humane and effective manner. Under the administration of Mayor Eric Adams, the city has undertaken various homeless sweeps, clearing thousands of encampments; however, reports indicate that no individuals have been successfully connected to permanent housing over the past year. This raises questions about the effectiveness of current policies.

The meeting was organized by Wylde, along with her predecessor Steven Fulop and Emma Pfohman from the Association for a Better New York. Attendees included prominent figures in the real estate sector, such as Rob Speyer, CEO of Tishman Speyer, and Hamilton James, former president and COO of Blackstone. Following the discussion, Mamdani indicated plans to engage directly with homeless individuals and advocates later that day. Wylde noted that the meeting was pre-scheduled and intended to provide Mamdani with the foundational support necessary for his affordable housing initiatives, ensuring that he can effectively implement his agenda as he steps into office.

As the mayoral transition progresses, Mamdani’s initiatives are poised to shape the city’s approach to housing and homelessness, reflecting an evolving dialogue on the critical issues facing New York City.