Some Easy Ways Westchester, Hudson Valley Can Increase Affordable Housing
Opinion Advocates for ideas and draws conclusions based on the author/producer’s interpretation of facts and data.
By Lisa DeRosa
It is evident to anyone observing that the suburbs around New York City are in urgent need of more affordable housing.
The scarcity of housing leads to families being separated, escalates rental prices and undermines the strength of our communities. Numerous proposals have been put forth to address this issue, some of which would significantly alter the character of suburban communities.
While we advocate for the development of more housing in all forms, we also support initiatives in Albany that target some immediate opportunities. One such proposal aims to revive rent-stabilized apartments that require repairs before they can return to the market, providing reasonable rents for working families and tenants who rely on public assistance. This initiative is known as the Local Regulated Housing Restoration Adjustment (LRHRA) and is backed by state Sen. Leroy Comrie (D-Queens) and former assemblyman Kenny Burgos.
For those unfamiliar with rent stabilization, there are about 25,000 rent-stabilized apartments in Westchester and Rockland counties. Any apartment building constructed before 1974 is automatically placed under rent stabilization, and many others join the system voluntarily to gain tax benefits.
Historically, tenants often lived in rent-stabilized apartments for over 20 years. These apartments were typically renovated after a tenant vacated, then leased to another family for another two decades. However, changes to rent laws in 2019 limited rent increases for renovated apartments to a maximum of $83, which has diminished the economic viability of such renovations. As a result, many apartments remain vacant, leading to around 400 unoccupied units in the Hudson Valley for more than a year.
Should the state legislature pass LRHRA, these units would be renovated and re-rented at affordable rates. Additionally, tens of thousands of similar apartments in New York City could quickly become available to working families, typically ready for occupancy in under six weeks, contrasting sharply with the years it often takes to complete new construction.
The law also includes provisions to ensure that the apartments are well-maintained and affordable while encouraging owners to rent to voucher holders. It establishes rent caps based on voucher payment standards set by the Department of Housing and Urban Development (HUD) and mandates that all apartments meet high-quality renovation standards.
Current tenants in these buildings also stand to gain. An unoccupied apartment serves no purpose. Once renovated and occupied, it will enhance the overall financial health of the building, allowing owners to make repairs more swiftly or invest in energy-efficient upgrades and other enhancements that will significantly improve the living conditions for existing tenants.
Another advantage of LRHRA is that it incurs no costs for taxpayers. It will stimulate economic activity and boost tax revenue for local municipalities. The new families moving into these apartments will also enrich the community. Often, this bill will enable workers to live closer to their jobs, thereby shortening their commute times.
Addressing our housing challenges will require considerable effort. To effectively confront the housing affordability crisis, a variety of changes must be enacted. LRHRA could represent a vital step toward a resolution.
Lisa DeRosa is president of the Building and Realty Institute (BRI) of Westchester and the Mid-Hudson Region, an organization that is the largest independent trade organization serving the building and realty industry in the area.
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