(Read more on the multifamily market.)
TRENTON, NJ-Earlier rules called for 52,000 new affordablehousing units in New Jersey over the next decade, and Gov. JonCorzine later upped the ante with his call for 100,000 over thesame period. That number has just been further increased with theissuance, this week, of new rules by the Council on AffordableHousing, an affiliate of the state's Department of CommunityAffairs.
The new number is now 115,000 new affordable units by 2018.After several legal challenges to previous rules, and deadlineextensions that have stretched over several years, COAH unveiledits latest proposal at its board meeting this week. The rules stillface public hearings before they're fully in force.
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