Hochul Issues Executive Orders to Tackle New York’s Housing Crisis

Tuesday, July 18, 2023

Ken Fisher is quoted in the Commercial Observer in an article discussing Governor Kathy Hochul’s approach to addressing New York City’s ongoing housing crisis.

"She's leveraging a rezoning that had broad support, but she's also showing the legislative leadership that she means business,” states Ken.

After the state legislature failed to agree on her housing agenda, Governor Hochul signed a series of executive orders to accelerate affordable housing construction. The orders include a substitute tax benefit for partially completed projects, incentives for municipalities prioritizing housing development, and a 421a replacement for specific projects in Brooklyn. While some real estate leaders praised the move, tenant advocates emphasized the need for collaboration with the legislature to address the extensive housing crisis adequately.

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