Examining the Five-Year Residential Housing Strategy Proposed by Hochul
Governor Kathy Hochul's ambitious plan to build or preserve 100,000 affordable housing units within five years is progressing well, according to the latest data from Homes and Community Renewal (HCR), New York's affordable housing agency.
As of mid-2023, over 65,000 affordable homes have been built or preserved since the plan began in 2022. This means the state is more than halfway toward meeting the target three years into the plan.
The Housing Plan Dashboard, a new feature on HCR's homepage, showcases multi-family developments contributing to the 100,000-unit affordable housing goal. The dashboard currently includes over 350 projects, encompassing approximately 38,000 units, with nearly 180 projects under construction.
The bulk of the affordable housing being built or preserved is in New York City, with nearly 19,000 units built, preserved, or under construction since 2022. Staten Island, however, has the least number of units among New York City boroughs, with just one project providing 75 homes.
The discrepancy between the number of units on the dashboard and the total number on the dashboard's bottom is due to delays in reporting final locations of projects funded through state dollars awarded to local administrators. As a result, the total number of units on the dashboard is approximately 47,000, which is below the 65,100 number featured on the dashboard.
It's important to note that most of the units on the dashboard are rentals, with some homes for purchase included as well. The dashboard also includes homeownership opportunities facilitated through state funds and programs, adding about 9,000 units to the total.
Gov. Hochul's previous five-year plan, included in the state budget passed in 2017, aimed to build or preserve 100,000 affordable units. HCR stated it hit the goal of building or preserving 100,000 affordable units between 2017 and 2022.
Looking ahead, Gov. Hochul negotiated the Housing Compact in 2024 with the goal of building 800,000 new units of housing over the next decade. This broader housing agenda is separate from the 2022-2027 affordable housing goal.
While specific details about the progress of the plan on June 30, 2023, were not available, the data as of mid-2025 confirms strong progress and a trajectory to meet the 100,000-unit goal by 2027. Governor Hochul has provided ballpark estimates about the progress of the current plan, with these estimates increasing over the months.
Despite the progress, some regions such as Long Island have seen fewer affordable housing projects, reflecting local resistance to new developments despite the pressing need. Little data was made public about the projects that the state has counted towards its ultimate goal until recently.
[1] Source: New York State Homes and Community Renewal's annual report sent to legislative leaders on June 30, 2023.
- The housing policy-and-legislation implemented by Governor Kathy Hochul, aimed at building or preserving 100,000 affordable housing units, has been progressing through various political processes and general news, with over 65,000 units already built or preserved as of mid-2023.
- As the housing policy-and-legislation in New York progresses, it has been noted that the majority of the affordable housing being built or preserved is in the city, with specific regions like Long Island seeing fewer projects due to local resistance, which is a significant aspect of the politics surrounding this issue.
