Hochul's Housing Alliance: Reforming SEQRA for Faster, Cheaper Homes

New York Governor Kathy Hochul is forming an unexpected coalition to expedite environmental reviews for housing projects. Her allies include the Real Estate Board of New York, environmental groups, and assembly member Zohran Mamdani. The aim is to reform the State Environmental Quality Review Act (SEQRA) to facilitate quicker and cheaper construction of multi-unit apartments across the state. This reform would allow developers to bypass or shorten reviews on previously disturbed land, such as old strip malls or vacant lots, following zoning approval. Hochul believes this is crucial for her housing affordability plan, potentially saving builders over eighty thousand dollars per unit in the five boroughs. The reform could also accelerate the development of bike lanes and child care centers in more areas. Despite rare agreement between developers and environmentalists, they are united on this issue. Groups like Earthjustice and the Regional Plan Association support the reform, emphasizing its potential to promote housing in walkable downtowns while safeguarding green spaces. However, negotiations reveal differences, with the state Senates plan allowing up to one thousand units in the five boroughs or five hundred outside, but limiting locations and non-housing projects. The Assembly draft adds prevailing wage rules, restricts sites further, and sets a two thousand twenty-nine expiration. With New Yorks vacancy rate at just one point four percent, Hochul is pushing for the broadest reforms possible in the state budget. As discussions conclude, this reform could finally alleviate the housing shortage and pave the way for more affordable homes statewide.

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