New Self-Storage Regulations May Halt Construction In NYC

Law360, Minneapolis (January 29, 2018, 1:49 PM EST) -- New York self-storage developers will now be required to obtain a special permit in order to build in many parts of the five boroughs, and experts say the new regulations are sufficiently onerous that developers may entirely scrap plans for building new facilities.

A new measure recently passed by the city council requires self-storage developers in many zones throughout the city to now apply for a permit, and while the city is trying to encourage more workforce-related development with the change, lawyers say the new regulations make it difficult to add any new self-storage product at a time when the city...

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