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…