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New York & Tri-State  + New York  + Apartments  | 
Gov. Kathy Hochul 2022 State of the State Address

Hochul Targets Affordability, Sustainability Initiatives in State of the State Address

New York Gov. Kathy Hochul’s State of the State address on Wednesday called for a five-year, $25-billion effort to create and preserve 100,000 affordable homes statewide, and she proposed major steps to construct new housing and increase density in urban areas. These include giving New York City the authority to encourage densification and easing restrictions on converting hotels and offices to housing. 

In a statement, James Whelan, president of the Real Estate Board of New York, said, “New York City needs far more rental apartments, particularly at lower rents – and it’s clear the private sector must continue to play a key role in producing it. We support Gov. Hochul’s sensible proposals for addressing the city’s housing crisis by eliminating density limits.” 

Separately, REBNY threw its support beyond Hochul’s sustainability proposals, which include achieving two million climate-friendly homes by 2030 and making a $500-million investment in offshore wind farms. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
  • ◦Policy/Gov't
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