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Governor Hochul and Advocates Celebrate Landmark Agreement to Address New York’s Housing Crisis

New York City Mayor Eric Adams said, “When we came into office two years ago, we had a mission: protect public safety, rebuild our economy, and make this city more livable for hardworking New Yorkers. Making our city more livable means building more affordable housing for more people. We are proud of our administration's progress on building a record number of affordable homes last year, and thanks to Governor Hochul and our partners in Albany, we can now go even further. We had one simple message for our partners in Albany: let us build — and they listened. With this new set of proposals slated to become law, including all of our legislative priorities, we can do just that and begin to build ourselves out of this housing crisis.”

New York City Council Speaker Adrienne Adams said, “New Yorkers are facing a severe housing shortage that demands urgent and comprehensive action to ensure they can afford to remain in their homes. Through the adopted state budget, New York City will now be better positioned to build more affordable homes and convert commercial buildings to housing. We appreciate the work of our partners in state government and all stakeholders who have contributed to advancing this budget."

Assemblymember Alex Bores said, “We need to get out of the nightmare where the only way to afford a home in New York is by winning a lottery: either the birth lottery, a housing lottery, or Mega Millions. To do that, we need to build. While the state budget housing package will benefit people of all ages, it is particularly helpful to young people wondering if the State (and City) will be an affordable place for them to settle down and build a family. This package commits resources to directly funding both private housing and homes built on State land; it protects tenants from rent gouging; it provides incentives for localities to make their zoning codes more pro-housing, and it cracks down on fraud and abuse. The cost of inaction in this realm was far too high. I commend the Governor, legislative leaders, and my colleagues for putting together a package that marks a big step forward.”

Queens Borough President Donovan Richards Jr. said, “There’s only one way out of the affordable housing crisis our city faces — building. I’m proud that Queens continues to lead New York City in affordable housing production, but with countless families living on the sharp edge of poverty, it’s never been clearer that much more must be done to grow our affordable housing stock. I’m deeply grateful to Governor Hochul for her commitment to building and preserving affordable housing in Queens and all across the state. I look forward to our continued partnership with her administration as we move with the urgency of now to rapidly expand our housing stock.”

New York State Homes and Community Renewal Commissioner RuthAnne Visnauskassaid, “Governor Hochul’s commitment to housing is unmatched. These groundbreaking measures provide solutions that have eluded New York for generations. The policies and hundreds of millions of dollars in new funding included in this budget will jumpstart the production of housing, protect the ability of tenants and homeowners to live safely and affordably in the communities of their choice, and better enable housing developers and localities across the State to provide the homes that New Yorkers desperately need. While we celebrate this accomplishment, we also understand this represents one of the many steps it will take to adequately address the housing affordability crisis and we look forward to a continued partnership with the Legislature to come up with long-term solutions.”

32BJ SEIU President Manny Pastreich said, “Servicing New York’s buildings shouldn’t mean sacrificing your ability to live in them because rent is too high. With good wages for workers, smart tools to incentivize more housing supply and strong good cause tenant protections, this housing agreement is a major step toward righting the wrongs of New York's affordability crisis. The middle-ground approach we advocated for helped us find the path to a housing ecosystem that allows New Yorkers across all income levels to live, work, and raise their families where they belong - in New York. We applaud Governor Hochul, Senate Majority Leader Stewart-Cousins, Speaker Heastie, and all the elected officials, unions, and partners in progress that worked together to build this new foundation for a more affordable New York.”

NY Building Congress President & CEO Carlo A. Scissura said, “With the passage of the FY25 budget, the Governor and the Legislature have demonstrated their commitment to breaking down barriers to affordable residential development and tackling New York’s housing crisis head on. Last year, New York City alone saw annual projections for new units staggeringly drop from 30,000 to just over 11,000. By allocating funding to the Affordable Neighborhoods for New Yorkers program and enabling the removal of antiquated barriers on ADUs and the 12 FAR cap, the State will be able to build housing that New Yorkers can actually afford to live in while also creating good-paying job opportunities for the workers who build and maintain it. On behalf of the Building Congress, I am proud to say that our members are ready to get shovels in the ground to build our way to a more affordable, more equitable future, and we applaud the Governor for taking this effort through the finish line.”

New York Housing Conference Executive Director Rachel Fee said, "This budget is a significant achievement for affordability, livability and opportunity for New Yorkers. We commend Governor Hochul and the State Legislature for advancing solutions to New York’s affordable housing crisis by enacting various new policies and programs relating to tax, zoning and budget resources that will help expand our housing supply. The New York Housing Conference will continue to work alongside our partners in government to build on this work until every New Yorker has access to the safe, decent and affordable housing they deserve."

Manhattan Borough President Mark Levine said, “New York City could not wait a moment longer to address our housing crisis. The compromise included in this years budget includes affordability provisions, tenant protections, and strong labor protections – all elements that will help create new housing while ensuring stability for New Yorkers. We have more work to do, but this is an important step on the road to remedying our housing crisis. Thank you to the Governor, the Legislature, and everyone who worked to pass a budget that lays the groundwork for a more equitable and sustainable housing future for generations to come.”

Citizens Housing & Planning Council Executive Director Howard Slatkin said, “This year’s state budget agreement puts New York on a footing to make meaningful headway against our housing supply and affordability crisis. Only by adding mixed-income rental housing throughout New York City and the region will we be able to address housing insecurity and unaffordability. The next necessary step will be action from the City to address urgent housing needs, including zoning reforms like City of Yes for Housing Opportunity, and launching a basement apartment legalization program. We appreciate the Governor’s steadfast advocacy of solutions that get at the root causes of our housing problems.”

New York State Association for Affordable Housing CEO and President Jolie Milstein said, “This budget furthers the commitment Governor Hochul and the State Legislature made to ensure that all New Yorkers have access to safe, decent, and affordable housing. It maintains crucial capital funding levels and delivers new first-time initiatives to increase the housing supply. It also removes barriers to affordable housing production by addressing insurance discrimination, lifting limiting zoning requirements in New York City, and furthering needed tax incentives in exchange for providing tenants with long term affordability. There is no single solution to solving the statewide housing supply crisis, but this budget clears prohibitive policies, and is a significant step forward that we look forward to working with the Governor and lawmakers to build upon.”

The Community Preservation Corporation President and CEO Rafael Cestero said, “I applaud the State's budget deal, which will equip New York City and State with the tools needed to jumpstart a new wave of housing development. The new 485-x incentive, in addition to the other housing initiatives in the deal, comes not a moment too soon, and will finally get more homes built for New Yorkers. While there’s more work to do, I am encouraged to see our leaders in Albany taking needed action to address this historic housing crisis.”

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