New Jersey will double the number of homes built on state-owned land, from 20,000 to 40,000, Gov. Mikie Sherrill announced on Sept. 29.
The plan, unveiled at the Governor’s Conference on Housing and Economic Development in Atlantic City, also sets up a “shot clock” meant to keep permit applications moving on clear timelines. It launches a new tax credit auction that the governor’s office said will generate tens of millions of dollars for affordable housing.
The plan was developed by the Housing Governing Council, which Sherrill, a Democrat, created by executive order during her first 100 days in office. The council’s report found that New Jersey must build 350,000 more homes “to keep pace with growth, increase affordability, and remain competitive,” according to the governor’s office….