New Law Will Create Housing for Middle Class and Working Families

Capping several months of discussion, debate, and public input, the City Council voted unanimously this week to adopt a new affordable housing policy. As you may know from previous bulletins on this subject, the legislation requires residential developers to set aside ten percent of the square footage of new housing at an affordable level or, alternatively, to contribute to a fund that the City will utilize for the direct construction of affordable homes. Developers will be entitled to density bonuses in exchange for the creation of these affordable housing units. I was pleased to co-author the legislation with Council Member Jim Stowe. The Council’s action comes at a time when New Rochelle is experiencing a luxury housing boom that is expected to bring some 2,000 new apartments to city’s central business district. As encouraged as we are by the construction of high-end homes, we know that a successful community must retain housing opportunities for middle class and working families. The Council’s action makes clear our commitment to providing those who do the most important jobs, from teaching children, to cleaning our streets, to keeping us safe, with meaningful opportunities to purchase or rent homes in New Rochelle.