New York City and Paris are two cities enamored with the appeal of IZ. Both cities have faced tremendous challenges with housing affordability. Motivated by the increasing visibility of the housing affordability crisis, policy makers in both the US and France have attempted to develop new tools to address the affordability crisis. One of those tools is inclusionary zoning. Our research thus seeks to fill the void in our understanding of IZ. More specifically, we address the following questions: Does IZ spur the development of new housing? How does IZ impact the surrounding neighborhood housing market? How do the IZ outcomes differ between New York and Paris?