In New York, Governor Kathy Hochul has announced a new housing framework aiming to address the state’s housing shortage through revised policies, despite facing criticism for being too compromised. The framework includes modified “good cause” eviction protections, a revised affordable housing tax break, and increased rent flexibility for landlords post-renovation, which has been met with discontent from various stakeholders. While the framework aims to foster residential development, particularly in urban areas, it notably excludes last year’s controversial statewide housing mandates, focusing instead on a $650 million incentive program to encourage suburban housing development. This approach has elicited skepticism from housing advocacy groups, concerned about the actual impact on housing supply, especially in traditionally resistant suburban areas. The ongoing debate underscores the challenges of implementing housing policies that satisfy diverse and often conflicting interests across the political spectrum.

https://www.crainsnewyork.com/real-estate/new-york-needs-housing-mandates-solve-housing-crisis