Top Stories
As economic headwinds continue across the U.S., housing access and affordability remain pressing concerns. This week’s top stories reflect both systemic challenges and promising policy responses, from slowing new construction to protective legislation and public health investments in housing.
Housing Starts Decline Amid Economic Uncertainty
Recent data shows a nationwide slowdown in new housing starts, driven by rising interest rates, labor shortages, and inflationary pressures. This cooling effect is most noticeable in the multifamily sector, which is critical for expanding affordable rental housing. While some regions continue to push forward with developments, others are seeing project delays or cancellations due to financial risk and material costs. Experts warn that if this trend continues, the already significant housing shortage—particularly for low- and moderate-income families—will deepen in the coming years.
Jersey City Approves Tax Break for 27-Unit Affordable Housing Project
A new 27-unit development at 701 Newark Avenue in Jersey City has received a 30-year PILOT (Payment in Lieu of Taxes) agreement to support the creation of affordable housing. The project, developed by Garden State Episcopal Community Development Corporation, will provide 100% affordable units targeted to households earning 20–60% of the Area Median Income (AMI). City officials and nonprofit leaders view the project as a critical step toward addressing the city’s housing needs, especially amid rising rents.
Demand for Affordable Housing in New Jersey Far Outpaces Supply
In New Jersey, the backlog for affordable housing continues to grow, with tens of thousands of people on waitlists that stretch for years. While the state has made progress in mandating the creation of affordable units through court settlements, actual availability remains far behind overwhelming demand. In towns like Union City, families can wait more than five years just to be considered for placement. Experts and advocates point to chronic underfunding, slow development timelines, and resistance from local municipalities as key barriers.
From market slowdowns to health-centered housing models and legal safeguards for vulnerable homeowners, this week’s stories show the complex, intersecting forces shaping housing justice.
The Waterfront Project remains committed to ensuring safe, stable housing is a right – not a privilege -for all.
You can support our work by sharing these stories, advocating for policy change, and attending out upcoming Justice for All Gala – click here for more information about this celebratory event.
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