ALBANY, N.Y. (NEWS10) – Over the last two years the number of new housing projects in Albany has slowed down dramatically. Albany Mayor Kathy Sheehan wants the common council to pass an ordinance that, she said, would increase the housing supply for middle class families.
Albany’s inclusionary zoning law was designed to ensure new apartment buildings included some low-income homes. Passed in 2017, buildings with more than 50 units had to set aside 5 percent as affordable. But, in 2023, that rule was amended.
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“And it simply hasn’t worked and I’ve been telling the council for two years that it’s not working. When I vetoed the legislation, I told them it wouldn’t work,” said Sheehan.
The changes require new buildings with more than 20 units to set-aside seven to 13 percent of units as affordable. The term “affordable” was also redefined. Homes are reserved for Albany families earning 60 percent of the city’s average median income. Sheehan said the change was well intentioned…