New York City in brief

After months in limbo, the Gateway Tunnel Project in Manhattan has had $77 million in federal funding thawed, with another $98 million expected soon—much to the relief of New York and New Jersey, who’d sued the Trump administration over the freeze. Work may soon resume on the $16 billion rail upgrade, possibly putting 1,000 idled workers back on track, assuming politics doesn’t derail progress at the next switch.

Faced with a $12 billion gap, Mayor Zohran Mamdani floated raising taxes on millionaires and corporations to avoid a 9.5% property tax hike in New York City’s $127 billion budget, reminding us that Albany’s reluctance to redistribute state revenue leaves the city’s three million homeowners squarely in the crosshairs. Other options include draining rainy day funds—surely everyone’s favourite stormy-day pastime.

Construction on the $16 billion Gateway tunnel linking New York and New Jersey remains at a standstill, as workers and local politicians press the Trump administration to unlock full federal funding. Although Washington has coughed up $107 million of the $200 million owed, the rest languishes in limbo—while 200,000 daily commuters, hardhats, and state leaders are left pondering if the only thing moving is the political blame game.

With Alex Armlovich’s resignation from New York City’s Rent Guidelines Board—following two other departures this month—Mayor Zohran Mamdani now holds the power to appoint six of the nine members, tilting the odds toward his promised rent freeze for the city’s million-plus stabilized apartments. While Armlovich claims professional motivations, tenants may nonetheless find market forces suddenly toeing the mayor’s line, at least until patchwork solutions wear thin.

New York’s Mayor Zohran Mamdani has replaced five Rent Guidelines Board members and kept one, stacking the deck as he chases a campaign promise to freeze rents for 1 million stabilized apartments. With new chair Chantella Mitchell and a public member cohort heavy on data and advocacy, he’s betting the board will deliver—though, as predecessors learned, even the best-laid pledges can get caught in New York’s housing crosswinds.