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New York’s housing crisis at forefront of upcoming legislative session

As New York’s lawmakers return to Albany, the focus will be on addressing the state’s acute housing shortage. Despite Governor Kathy Hochul’s emphasis on housing in this year’s State of the State address, a conclusive agreement on a housing policy remains elusive, with previous negotiations stalling over tenant protections.

The Legislature’s unreleased proposal, set to serve as a foundation for renewed discussions starting January 3, suggests localities submit housing needs for state assistance in shaping incentives.


The legislative efforts will concentrate on diverse strategies, including tax incentives for new development, transforming unused spaces into apartments, and strengthening tenant legal protections.

Governor Hochul’s ambitious plan to construct 800,000 housing units over a decade faced opposition due to unpopular construction mandates, leading to its rejection.

The governor has since taken executive actions, including declaring orders for $650 million in grants to create affordable housing, although specific recipient municipalities have not been named.