Klein Hornig LLP’s Post

📣 After months of negotiations, the New York State Legislature enacted on April 20 the state’s 2024-2025 Budget, which represents the most significant state action on housing in several budget cycles and includes provisions regarding the “Affordable Neighborhoods for New Yorkers” tax exemption (otherwise known as “485-x”) to incentivize new multifamily construction, the Good Cause Eviction Law, incentives for office-to-residential conversions, authorization for New York City to raise the Floor Area Ratio cap, and an increase in the allowance for Individual Apartment Improvements for Rent Stabilized Units, among others. This advisory by Katten's Affordable Housing and Community Development practice summarizes 485-x. #RealEstateLaw #NewYorkLaw #Budget #Housing

The economic impacts of affordable housing are clear as shown by Mountainlands Community Housing Trust's study revealed in their event earlier this week. 🚘️ 🏘️ More affordable housing would limit commuting, which would reduce traffic and the need for new parking structures; it would bring in more state funding for schools; and increase local spending, sales, and property taxes for the county. The return on investment into affordable housing is estimated to be more than 5 times. 📰 Read the KPCW article to learn more about the positive impacts of affordable housing: https://lnkd.in/e3zc4mRT

In Atlanta, the need for affordable housing has never been more critical—and we’re meeting the challenge. National Church Residences is proud to have 17 communities in the Atlanta metro are, providing seniors with safe, stable, and affordable homes. The recent approval of a tax-exempt bond for Martin House by Invest Atlanta is a key example of how strategic partnerships are making an impact. This is part of a larger effort to finance the creation or preservation of 218 affordable housing projects across the city, ensuring more opportunities for housing. With the acquisition of Martin House, National Church Residences will utilize this funding to renovate this Adamsville property that 153 seniors call home.   We’re excited to be part of this change, with Georgia Department of Community Affairs allocating $36 million in housing tax credits for this project, as well as the support of Partners for HOME and Atlanta Housing we’re committed to continuing our work to expand access to service enriched affordable housing for all.   Learn more about Martin House and our ongoing commitment to affordable housing > https://lnkd.in/eMnGAagY   #AffordableHousing #AtlantaCommunities #HousingForAll #CommunityImpact #AtlantaRealEstate City of Atlanta

So much development policy in the Caribbean assumes that an individual deed to a piece of land singlehandedly solves all the social and economic issues a household faces. But is that true? Join us Tuesday Sept. 17 @ 12:00p (Jamaica Time) as we explore how a self-built community in Puerto Rico achieved land tenure security through communal land ownership. Rejecting the approach of individual titles, communal ownership has been an instrument of emancipation and community empowerment. https://lnkd.in/ehmCvCGB

Here's a great new resource on Community Land Trusts from Lincoln Institute of Land Policy, particularly for jurisdictions outside the City of Atlanta who are exploring how to expand their starter home and housing affordability tool box...

New Jersey’s affordable housing rules have changed. The new legislation eliminates COAH and changes the vacant land regulations and available bonus credits. The bill also includes strict deadlines for municipalities to calculate their affordable housing obligation and prepare a new Housing Element. Please reach out to learn more and how we can help you navigate the new affordable housing requirements!

Good study and analysis of Community Land Trusts and their positive influence on housing affordability.

Join us Tuesday Sept. 17 @ 12:00p (Jamaica Time) for the second conversation in our captureland series. https://lnkd.in/ehmCvCGB Self-built or self-help housing refers to dwellings to which the inhabitants have contributed all or most of the construction input themselves. By the 1990s, more than two-thirds of the population of Montego Bay and half of Spanish Town fell into this category. Island-wide, the state estimates that over 20% of the population is living “informally”. Despite this legacy of people incrementally improving and expanding their accommodations over time, state resources have gone almost entirely toward facilitating the private housing market through the financing of long-term mortgages for sprawling suburban housing units. This option has always been out of reach of Jamaicans most in need of housing. In this webinar, we explore how a self-built community in Puerto Rico achieved land tenure security through communal land ownership. Residents of the Caño Martín Peña created the first community land trust in Latin America, ensuring affordability and protection from displacement and gentrification. Rejecting the approach of individual titles, communal ownership has been an instrument of emancipation and community empowerment.

The New York State Fiscal Year 2025 Budget adopted by the State legislature contains a number of measures aimed to increase housing production, particularly in New York City. One of these measures is 467-m Affordable Housing from Commercial Conversions Tax Incentive, a real estate tax incentive for buildings converting from a commercial to residential use. Watch our video to learn how Herrick's Affordable Housing and Community Development team can help to navigate this. #HerrickDoesThat #467m #taxincentives

The Low-Income Housing Tax Credit (LIHTC) is more than a financial tool—it catalyzes community transformation. By incentivizing developers and investors to create and preserve affordable homes, LIHTC balances public good with private initiative. It helps ensure that working families, seniors, and those on fixed incomes can access stable, high-quality housing options that support better health, educational outcomes, and overall well-being. In many ways, LIHTC is the backbone of affordable housing production, allowing us to build pathways for economic mobility and stronger, more inclusive neighborhoods.