State of State Address Highlights Affordable Housing

New York Governor Kathy Hochul delivered her first State of the State today (January 5, 2022).  Resuming a traditional approach to the speech, the Governor addressed members of the State Legislature from the historic Assembly Chamber.  The Governor appeared to deliver the one hour speech without the benefit of notes or even a visible teleprompter.

New York Governor’s State of the State speeches are always built on extensive lists of proposals – some of which are enacted and many others that die a quiet or not so quiet death.  This address contained enough proposals to fill a 235 page briefing book with nearly 20 pages devoted to homelessness and affordable housing. 

Affordable housing advocates had to be delighted when the Governor began her discussion of housing by proposing new Comprehensive 5-year housing plan that would create or preserve 100,000 units with a headline grabbing $25 billion price tag.   We can expect to see details of the proposed 5-year plan in a week or two when Governor Hochul will present her budget address and simultaneously release her detailed Executive Budget.

Reflecting the first five year plan, the Governor proposes an aggressive program to create and preserve 10,000 supportive housing units.  She also proposes $300 million for the new construction and preservation of senior housing across the state.

Among the more innovative proposals she proposes to encourage the creation of accessory dwelling units and a pilot project to create homeownership projects that prioritize resident control and permeant affordability.  She also proposes to weatherize and electrify our housing stock and to otherwise spur innovation in affordable housing.

Governor Hochul addressed a number of rural housing issues that have been raised by NYS Rural Advocates.  From the briefing book she proposed to improve the housing stock of rural rental properties and to make financing more accessible and affordable for manufactured homes.

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