It's no secret that we have a serious lack of #affordablehousing in New Jersey. But as housing costs continue to rise, it makes sense to also tackle obligations through existing stock. 🏘 Read more: https://lnkd.in/gdkgjm2R #njhousing #njaffordablehousing #housingpolicy
Jeff Carroll
7mo
I can't get on board with this. From the piece: “Seeing these advantages, some forward-thinking municipal governments have sought to make it even easier to get their hands on property, through an option to have a right of first refusal on multifamily properties.” What we need is production of NEW units. And to do that, municipalities need to reform their onerous land use, zoning, and permitting regulations.
Semi-retired, Full-time Grandpa
7moAs one who did some of the drafting of the NJ Fair Housing Act (the part pertaining to the creation of the state housing trust fund), preservation of existing stock should be part of the conversation as the legislature considers the repeal of the welcomed repeal of the COAH portion of that legislation. Particularly important in areas gentrifying or likely to be under such pressure. The problem that Lind doesn't address is that you need supportive legislation (and money) and a pipeline of players ready to act as opportunities arise to acquire and preserve properties. For example, not only is "right of first refusal" legislation needed, but support for things like land trusts that could hold such properties is needed. Neither NJ nor Philadelphia, the subject of Lind's piece, offer much to CLTs except the right to compete with a host of other for- and non-profit developers. Lots of other things could be done.