How will Hochul respond to New York’s housing crisis?
Tax abatements, tenant vouchers, and zoning overrides are just some of the tools the newly elected governor could deploy.
This article was originally published on by THE CITY
While running for reelection, Gov. Kathy Hochul pledged to jumpstart the construction of 500,000 to 1 million new homes to deal with a housing crisis that stretches from New York City to the suburbs, and even upstate.
But first, in the two months before she’ll lay out her priorities in her State of the State speech and budget plan, she will have to choose from a dizzying list of proposals from Mayor Eric Adams, real estate interests, tenant groups and others. They seek tax breaks, new subsidy programs, changes to override local zoning rules and more.