In last-minute maneuvering to seal a deal on the state budget on Friday, NY Gov. Kathy Hochul was forced to abandon her plans to build more than 800K new homes in the Empire State.
Faced with fierce opposition from NYC suburbs and Long Island, Hochul dropped all of her major housing initiatives, including a plan to give the state the power to override local zoning officials and force higher-density housing development along transit lines.
The biggest loser when Hochul took her entire housing package off the table was New York City, which had tied its Moonshot program—which aims to build 500K in new housing units—to a series of measures that Hochul had promised to enact, including incentivizing office-to-resi conversions, raising the city's cap on residential floor area ratios and legalizing basement apartments in NYC.
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