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New York Governor Hochul Makes a Housing Announcement

New York Governor Kathy Hochul has unveiled a groundbreaking initiative poised to reshape the housing landscape of the Gowanus section of Brooklyn. In a significant move, 18 new housing developments are set to advance under the Gowanus Neighborhood Mixed Income Housing Development Program, heralding the creation of over 5,300 units of housing. Among these, more than 1,400 units are designated as affordable, marking a crucial step towards addressing the city’s pressing housing needs.

The inception of this program, spearheaded by Governor Hochul last year, comes as a timely response to the challenge posed by the expiration of the 421-A program, which had left numerous housing projects in limbo. Governor Hochul’s proactive stance, accompanied by a series of Executive Actions, aims to revitalize New York’s housing sector by bolstering its supply.

Notably, the announcement also celebrates the groundbreaking of 320 and 340 Nevins Street, a joint venture between Charney Companies and Tavros Holdings. This development, comprising 654 units, including 154 affordable dwellings, stands as a testament to the program’s immediate impact. It signals the program’s ability to mobilize stakeholders and catalyze tangible progress in housing provision.

The initiative not only promises to expand housing options but also underscores the importance of fostering inclusive communities. By prioritizing mixed-income developments, the program seeks to promote socio-economic diversity and combat urban inequality, fostering vibrant and sustainable neighborhoods.

As one of the first projects to gain traction under the program, 320 and 340 Nevins Street embodies the program’s vision of accessible, inclusive housing for all New Yorkers. With this ambitious endeavor underway, Governor Hochul’s administration sets a precedent for proactive urban development, signaling a promising future for housing in New York City’s dynamic landscape.

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February 2024

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