Governor Kathy Hochul today announced a total of 350,000 housing units statewide have been built, preserved or are under construction since she took office in 2021. Governor Hochul made the announcement while touring a new affordable housing unit in Brooklyn’s Gowanus neighborhood, where nearly 8,500 homes were saved by the Governor’s landmark housing deal in last year’s budget that included an extension of the 421-a completion deadline. Already more than 3,200 units in Gowanus are in construction or complete this year and in total, 71,000 homes citywide – of which 21,000 are affordable homes previously at risk – were rescued by this action.
“Solving New York’s housing crisis comes down to one thing: putting every tool at our disposal to work building and preserving homes for New Yorkers,” Governor Hochul said. “That’s what my administration is committed to, and that’s why we are seeing real progress on initiatives that help people from New York City to Niagara Falls access the housing they need to thrive. The success of our Housing Plan, the enthusiasm for the Pro-Housing Communities Program, and the units we’re saving through the 421-a extension are just a few of the ways we are having a real impact on families and communities.”
This announcement builds on Governor Hochul’s $25 billion housing plan, which is ahead of schedule with over 60,000 affordable homes built or preserved toward the 100,000 goal. Additionally, the Governor unveiled a new online dashboard for the public to track the progress on housing goals. To further her commitment to housing, the FY26 State Budget includes $1.5 billion in new funding for housing statewide and $750 million for Pro-Housing Communities to build more housing locally.
$25 Billion Housing Plan Hits Over 60,000 Affordable Homes Ahead of Schedule
The Governor’s $25 billion Housing Plan is ahead of schedule, surpassing 60,000 affordable homes created and preserved toward the 100,000 goal. New Yorkers can now follow the Plan’s progress on a new online dashboard the Governor launched, which is accessible here.
Pro-Housing Communities Certifies 300 Municipalities
More than 300 municipalities across the State have become certified under Governor Hochul’s Pro-Housing Communities Program, which allows cities, towns and villages to access up to $750 million in discretionary funding to help unlock more housing. To further support localities that are doing their part to address the housing crisis, Governor Hochul is creating a $100 million Pro-Housing Supply fund for certified Pro-Housing Communities to assist with critical infrastructure projects necessary to create new housing, such as sewer and water infrastructure upgrades.
Additionally, to help ensure more localities that want to promote housing growth have the ability to do so, Governor Hochul will provide $5.25 million in new grant funding to offer technical assistance to communities seeking to foster housing growth and associated municipal development.
Provide New York City with Tools to Increase Housing
The Budget includes $1.025 billion in State funding to support New York City with the State’s shared goal of adding new housing supply. Funding will support the City’s investments and passed legislation that will enable zoning changes and other permissive actions to further housing development through the City of Yes for Housing Opportunity program. The investments and reforms under this program are expected to create or preserve more than 80,000 new homes.
421-a Extension Rescuing 71,000 Apartments in New York City
Last year the Governor took action to extend the construction completion deadline for projects in the expired 421-a program to 2031. The extension is expected to create 71,000 new homes in New York City, including 21,000 affordable apartments. The Governor toured a 421-a project, 585 Union Street in the Gowanus neighborhood of Brooklyn, and visited a new resident. The development at 585 Union Street consists of 224 apartments, 58 of which are affordable to people with incomes ranging from 40 percent to 130 percent of the Area Median Income. The extension secured by the Governor enables developments like 585 Union Street that were at risk of missing the construction completion deadline due to factors such as market volatility in the wake of the pandemic to move forward without interruption.
