FOR IMMEDIATE RELEASE: June 5, 2023
"New York has less than a week left for leaders in Albany to stop dragging their heels on the easiest, most impactful thing they can do to address the state's worsening housing crisis: Pass the 421-a extension," said Carlo A. Scissura, Esq., President and CEO of the New York Building Congress. "For nearly a year, we've seen how its absence has led to New York falling farther behind in housing construction statewide — from the five boroughs to the suburbs to upstate. An extension of the 421-a completion deadline by four years for projects approved before the program expired would cost the state nothing and ensure that 33,000 new homes will be built, of which 8,200 units will be affordable. And we need every one of them. Without the extension, Albany is jeopardizing much-needed housing, further diminishing our state's pipeline. Our industry is ready to help build our way out of this crisis, but we need our leaders to take a decisive first step and finally pass the 421-a extension."
