Governor Kathy Hochul announced Thursday that New York State has built, preserved, or unlocked an estimated 350,000 homes since she took office in 2021—including more than 65,000 affordable units, putting her $25 billion housing plan ahead of schedule.
The announcement came during a tour of an affordable housing development in Brooklyn’s Gowanus neighborhood, where the state helped preserve 8,500 homes and jumpstart construction on thousands more through a budget deal that extended the 421-a tax incentive deadline.
“Solving New York’s housing crisis comes down to one thing: putting every tool at our disposal to work,” Hochul said. “That’s why we’re seeing real results in communities across the state.”
Housing plan accelerates amid record investment
The Governor’s ambitious five-year $25 billion housing plan aims to create or preserve 100,000 affordable homes statewide. With over 65,000 already completed or in progress, the state has exceeded expectations just three years into the program.
The FY26 state budget adds another $1.5 billion for housing, including:
- $1 billion for NYC’s “City of Yes” zoning initiative
- $750 million for certified Pro-Housing Communities
- $100 million in new funding for local infrastructure upgrades tied to housing growth
A new public housing dashboard was also unveiled, allowing New Yorkers to track progress and hold the state accountable.
NY Forward and DRI fund neighborhood-scale projects
In Central New York, Hochul also announced 20 transformational projects across Aurora, Cayuga, Union Springs, Canastota, and Brewerton funded through the Downtown Revitalization Initiative (DRI) and NY Forward. These efforts will create mixed-use developments, new housing, waterfront access, community parks, and cultural spaces.
Highlights include:
- 143 Cayuga Street: A new mixed-use building with apartments and ground-floor retail
- Canalside Pocket Neighborhood in Canastota: 51 units for a mix of incomes
- 9693 Brewerton Road: New townhomes and retail in a strategic growth area near Micron’s chip plant
The projects are designed to spur economic growth and attract new residents to walkable, vibrant downtowns.
421-a extension saves 71,000 NYC homes
In 2024, Hochul pushed through an extension of the expired 421-a construction deadline, unlocking 71,000 housing units in New York City—including 21,000 affordable homes that were at risk due to pandemic-related construction delays.
One such project, 585 Union Street, includes 224 apartments—58 of them affordable—and was visited by the Governor this week. She met with new tenant Niya Newman, who said the apartment gave her and her family a fresh start.
“It’s not just about buildings—it’s about people,” Hochul said. “We’re helping families put down roots and thrive in vibrant neighborhoods.”
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