Simon Malinowski in Cannabis Business Times

New York is “putting its money where its mouth is” with respect to its cannabis social equity program, wrote Simon Malinowski, cannabis and real estate law attorney with Harris Bricken, in a post on the firm’s Canna Law Blog. In a phone interview, Malinowski told CBT these kind of supports are necessary to ensure the program succeeds.

“Particularly in New York, the cost of acquiring real estate and then building out real estate in large part depends on the individual applicants experience with real estate and with construction,” Malinowski says. “Because it’s the sort of thing where if you make a small misstep in the construction process, particularly in New York City, that can result in months of delays from permitting and plan approval. Every single day that you’re delayed from opening is basically carrying costs that you have to maintain without obtaining any revenue.”