With more than 1,200 affordable apartments constructed or approved as part of our overall downtown redevelopment, New Rochelle has been a regional leader in providing affordable housing.  The City Council is now considering additional steps to further expand access to quality housing for everyone.  The new measures under review would (1) establish a sliding-scale credit system for housing developers with the effect of boosting the quantity and/or accessibility of newly-built affordable units, (2) increase the developer fee for opting-out of affordable housing requirements, (3) eliminate the current policy that permits affordable units to be constructed off-site, and (4) expand the allowable use of the City’s Affordable Housing Fund to encompass down payment assistance for homeownership.

The City Council will have an opportunity to approve these recommendations following a public hearing next month — part of our ongoing commitment to inclusive, equitable economic growth.