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1 week ago

Business leader sounds alarm over Mamdani’s NYC housing proposal

A New York business leader is warning that New York City Mayor Zohran Mamdani’s proposed housing plan could drive developers and investors away from the city.FOX Business’ Madison Alworth joined FOX Business’ Stuart Varney on "Varney & Co." to report on Mamdani’s proposal to create 200,000 new affordable, rent-stabilized housing units and preserve another 200,000 over the next decade. The $22 billion plan would include $5.6 billion for the New York City Housing Authority and require wages of at least $40 per hour on affordable housing projects.The proposal includes the possibility of the c...