Governor Kathy Hochul says she wants a lot more housing built in the state of New York. Earlier this year, Hochul proposed a plan that would have created 800,000 new housing units. It fell through in budget negotiations.
Hochul plans to revisit the issue in 2024 because, she says, the state still needs more housing.
"My plan last year, the housing compact, never said it had to be low income, had to be affordable, had to be market, had to be luxury," Hochul said. "We wanted the individual communities to decide what they wanted and I still support that. But I need more supply."
Speaking at the site of a revitalization project in Lake George this week, Hochul warned that without more supply, New Yorkers will move to other states.
The governor says she’ll keep working with state legislators to find creative ways to get more housing built, because she says “failure is not an option.”
Meanwhile, Central New York will be awarded more than $4 million in grant money to support affordable home ownership. It's part of $46 million that Governor Hochul is awarding across the state. The grants will help low- and moderate-income families make repairs or safety upgrades to their homes, replace manufactured homes, and provide down payment assistance for first-time homebuyers.
Hochul says it could make the difference in whether someone can finally own a home or not. The money is being sent to non-profit organizations and localities who will determine where it should be spent.