The past few months have demonstrated that 2023 is shaping up to be a historic milestone for both HCR and our housing partners across New York.
In January, we took a giant leap forward in our efforts to address the state’s housing crisis when Governor Hochul announced the New York Housing Compact – a bold statewide strategy to spur the creation of 800,000 homes over the next decade in a way that benefits our climate, accommodates our growing workforce, and expands fair access to housing for all New Yorkers.
During my testimony at the Joint Legislative Budget Hearing on the Governor’s 2024 Executive Budget proposal for housing, I had the pleasure of discussing the Housing Compact and how it will be an important tool in our efforts to restore the cycle of housing in New York State – starter homes, larger houses or apartments for growing families, and homes where our parents and grandparents can live safely and independently in their communities.
Some important highlights of the Housing Compact are included in this edition of our newsletter, but we have also launched a standalone website dedicated to this important initiative. On the site, you can learn more about how Governor Hochul’s proposal will lead to measured, sustainable growth, put an emphasis on transit-oriented development, and incentivize both new construction and the rehabilitation of existing housing.
On March 3rd, I was thrilled Newsday published my guest essay dispelling the myths surrounding the Housing Compact and allowed us to lay out the facts about how it can be adapted to suit each community and deliver the housing New York needs.
We’re excited for what the future holds and believe the creation of this statewide housing strategy complements our current $25 billion, five-year affordable housing plan and forges a new path to unlocking our development potential and building the housing New Yorkers need – regardless of age, income, or phase of life.
The beginning of 2023 has been full of promise and we at HCR could not be more gratified for your continued partnership and support.
Commissioner/CEO New York State Homes and Community Renewal