Webinar to Focus on The New York Compact And What It Would Mean for Westchester
Real Estate In-Depth | February 14, 2023
WHITE PLAINS—The Hudson Gateway Association of Realtors is co-hosting a timely webinar on Feb. 23 focused on Gov. Kathy Hochul’s “New York Compact” housing initiative that calls for the development of 800,000 new homes statewide in three years.
Other co-hosts of the free Zoom program that will begin at 9 a.m. are the Westchester County Association, Welcome Home Westchester, Nonprofit Westchester and the Building & Realty Institute.
As part of her Executive Budget, Gov. Hochul has proposed one of the most pro-housing and pro-construction agendas. If her plan is approved, the program goal would involve an estimated 10,000 new housing units in Westchester County.
The webinar’s guest speaker is Kate Slevin, Executive Vice President at the Regional Plan Association. The webinar invites housing experts to explain what has been proposed and what it would look like for the cities, towns, and villages of Westchester County.
As part of The New York Compact, the governor has proposed:
• A clear target of increasing housing production by 3% for downstate communities in the MTA zone, with homes that are affordable for the workforce and middle-class families such that they will spend no more than 30% of their income on housing costs counting double towards that goal.
• Financial incentives to encourage more communities to adopt housing models that have a proven track record, like transit-oriented developments and accessory dwelling units, while also supporting communities that want to be a part of the solution with funding for infrastructure improvements, including sewer, water, parking, traffic, and school impacts—the very issues most commonly raised during public hearings.
• Repercussions for denial and delay or other obstructions at the local level that have contributed time and again to the housing shortage, by making it too easy to create barriers to housing, create delays for approvals, pass the buck to other neighborhoods or other towns when it came to housing affordability, or failing to update local zoning codes to meet the needs of the community.