New Jersey
Trenton, NJ 08618
609-393-3752
FOR IMMEDIATE RELEASE
Trenton, NJ - Homes for New Jersey applauds the Assembly Leadership for announcing a 12-point legislative package to promote the production of affordable housing in New Jersey.
"Legislative action is critical to fulfilling the Governor's pledge to preserve or produce 100,000 homes over 10 years," said Alison Badgett, Executive Director of Homes for New Jersey. "We commend Assembly leaders Roberts, Watson Coleman and Green for their leadership and commitment to solving New Jersey's housing affordability crisis. Our coalition of 280 real estate developers, nonprofits and civic groups look forward to working in partnership with the legislature to advance a comprehensive housing package."
With New Jersey's median monthly housing costs 52 percent higher than those of the nation, a recent Rutgers report documented a population exodus from the state, costing New Jersey an estimated $680 million in potential tax revenue last year alone.
"The negative impact of high housing costs can clearly be felt throughout the state; affordable housing is now an economic issue in New Jersey as much as it is a humanitarian one," observed Badgett. "In making housing policy a priority, the legislature and newly appointed Department of Community Affairs Commissioner Joe Doria, demonstrate their understanding of and commitment to affordable housing as the foundation of New Jersey's future prosperity."
The Assembly's housing policy proposals are cost-neutral, and focus on structural reform to utilize existing New Jersey resources more efficiently by:
- Leveraging private sector resources
- Providing a transparent government accounting of affordable housing units constructed
- Mandating an annual comprehensive housing plan
Homes for New Jersey was founded in 2005 as a coalition of 280 prominent New Jersey builders, bankers, religious organizations, real estate companies, advocacy groups and service providers, who recognized the state's lack of affordable housing as a preeminent threat to New Jersey's future. Out of this concern, the coalition developed a detailed plan for housing reform, and obtained the commitment from then candidate, Jon Corzine, to produce or preserve 100,000 units of affordable housing within 10 years.