Hochul announces financial incentive for Gowanus affordable housing developers in lieu of 421-a


Governor Kathy Hochul visited Brooklyn on Tuesday to announce a series of executive actions she said would promote housing growth amid an untenable housing crisis in New York — including a specific financial incentive for developers in the recently-rezoned Gowanus area.

The governor’s announcement — which included new programs, discretionary funding, and regulatory guidelines for creating affordable housing — came after the end of a legislative session many advocates as the state struggles with a housing shortage that has forced some New Yorkers to move out of the state.