Zoning Approaches to Tackle New York's Housing Crisis
According to the Governor's Executive Budget Briefing Book issued with the TOD Act of 2023, demand for housing far outpaces the supply in New York, which in turn, pushes rents and prices "out of reach" for a large portion of the state's population.
March 08, 2023 at 10:30 AM
8 minute read
Land Use and PlanningIn early February, the Hochul administration released its proposed FY2024 Budget Legislation, which included an ambitious "New York Housing Compact" to build 800,000 new homes in the state. A cornerstone of the compact is the proposed Transit Oriented Development Act of 2023 (TOD Act of 2023). The TOD Act of 2023 encourages concentrating high-density multifamily redevelopment within half a mile of an MTA train station.
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