BROOKLYN, NY – Governor Kathy Hochul has unveiled plans for 18 new housing developments in Brooklyn’s Gowanus area, signaling a major push to address New York’s acute housing shortage. The initiative, part of the Gowanus Neighborhood Mixed Income Housing Development Program, will deliver more than 5,300 housing units, including over 1,400 affordable options, offering a significant boost to the local housing supply.
The announcement, made during a groundbreaking event for 320 and 340 Nevins Street projects, underscores the state’s commitment to revitalizing housing development in New York. These projects, developed by Charney Companies and Tavros Holdings, are among the first to benefit from the program, which was launched last year in response to the expiration of the 421-A tax credit. The program aims to reinvigorate stalled housing projects and increase the state’s housing inventory.
Governor Hochul emphasized the urgency of the housing crisis in New York, describing it as a “crisis on steroids” and highlighting the necessity of new housing development to ensure that essential workers, such as teachers and nurses, can afford to live in the city. The governor’s vision for New York includes a robust plan to make the state a more attractive and livable place for all its residents.
The recent New York City Housing Survey revealed a dire vacancy rate of just 1.5 percent, the lowest since the 1960s, underscoring the critical need for increased housing development. Governor Hochul criticized the current situation as unacceptable and stressed that immediate action is needed to prevent further exodus from the state due to housing unavailability.
The Gowanus Neighborhood Mixed Income Housing Development Program represents a hopeful step forward in addressing this crisis. With support from state legislators, city council members, and the Empire State Development team, the initiative is poised to make a significant impact on New York’s housing landscape, offering new opportunities for residents and contributing to the state’s economic growth and stability.