May 22, 2026
Mayor Zohran Mamdani’s administration announced the start of a neighborhood rezoning process targeting two areas that have seen relatively little new development in decades: the Coney Island Avenue and McDonald Avenue corridors in Central Brooklyn, and White Plains Road in the North Bronx.
The city is launching a rezoning process along Coney Island Avenue and McDonald Avenue, south of Prospect Park. The area, home to neighborhoods known as Little Bangladesh and Little Pakistan, is currently lined with low-density, single-story businesses. Downzoning efforts from the 1990s put a ceiling on development here, and the Mamdani administration wants to lift it.
According to Bisnow, the city is also advancing planning for White Plains Road in the North Bronx, a process originally started under former Mayor Adams. That corridor is further along, with a conceptual plan expected later this year. For Central Brooklyn, no formal proposal exists yet, but the city has opened a public feedback portal and plans to share a zoning concept map in 2026.
Both corridors sit along strong existing transit infrastructure, which is exactly where density makes the most planning sense. Four subway lines already serve the Central Brooklyn area, and the Coney Island Avenue corridor is being considered in connection with the planned Interborough Express, a new light rail line linking Brooklyn and Queens currently in design and environmental review.
The goal is not just more housing, but affordable units, improved commercial spaces, and upgrades to public areas. As Mamdani put it, “New Yorkers are being pushed out of the neighborhoods they built because our city has spent decades refusing to build enough housing where people actually want and need to live.”
Mamdani has set a goal of adding 200,000 new housing units across the city, and rezoning is one of the most powerful tools available to make that happen. The urgency is real. Corcoran’s April 2026 Brooklyn Rental Market Report found the average one-bedroom in Brooklyn now rents for $4,219 per month, up 8% from last year.
By allowing taller, denser buildings in corridors that were previously restricted, the city signals to developers that these neighborhoods are open for new investment. How much of that investment reaches everyday residents will depend on what affordability requirements end up in the final proposals.
If you own property near these corridors, this announcement is worth paying close attention to. Rezoning can meaningfully shift property values and development potential over time. For renters, the key question will be how affordability is structured in any final plan. Local council members are already pushing for protections for small businesses and longtime residents, things like below-market rent requirements for new units and lease protections that prevent existing shops from being priced out as property values rise.
For investors and developers, these neighborhoods are now officially on the city’s radar, and getting informed early matters. The full rezoning process, which requires community board review, City Planning Commission approval, and City Council sign-off, typically takes several years from announcement to implementation. But the direction is clear.
Disclaimer: This content is intended for informational and educational purposes only and is not intended to be construed as legal, tax, financial, or insurance advice. Every property and tax situation is unique. Please consult a licensed attorney, CPA, or tax professional regarding your specific circumstances before making any decisions related to property improvements, tax assessments, or real estate transactions. Mohammed M. Rahman is a licensed real estate broker in New York. Contact: Mo@ClosedByMo.com.
