New York City stands at a critical juncture.

The Mamdani administration inherits a mandate — and a momentous opportunity — to deepen its focus on affordable housing and quality of life.

These issues are central to the success of the city’s business and residential sectors, and it has been heartening to watch Mayor-elect Zohran Mamdani vow to take on these extraordinary challenges.

The housing crisis in New York has become acute, and I hear about it all the time when I speak with top leaders about the city’s future.

Median asking rents in the city recently reached nearly $3,600 per month, or roughly half of the median household income, putting enormous pressure on middle-income residents and pushing many essential workers to the margins.

At the same time, low-income households increasingly spend 70% or more of their........

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