Better Blocks New Jersey

Better Blocks advocates for better urban land use so JC and NJ can build more housing, businesses, parks, & transit to sustain our vibrant communities.

[Better Blocks New Jersey @BetterBlocksNJ]

Just a quick side-by-side comparison of what’s at stake for residents when we compare paying for income-restricted affordable housing (costly in its own right) to an absolutely indefensible rent control expansion.

[Better Blocks New Jersey @BetterBlocksNJ]

https://t.co/1PwmmdnLbH

[Better Blocks New Jersey @BetterBlocksNJ]

Corrected pin. The previous image was in error.

[Better Blocks New Jersey @BetterBlocksNJ]

160 households at Newport's Presidential Plaza are on their last below-market lease. Once those units go to market, rents could rise 60–90%. A year ago Jersey City had a deal to keep them affordable and add 18 more. The council voted it down.

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[Better Blocks New Jersey @BetterBlocksNJ]

https://t.co/1PwmmdnLbH

[Better Blocks New Jersey @BetterBlocksNJ]

Background: two high-rise towers at 30 and 40 Newport Parkway were financed in 1988 with a 40-year state loan. In exchange, 160 of 890 apartments stayed affordable.

In June, LeFrak paid the loan off, ending the protections tied to the state loan.

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[Better Blocks New Jersey @BetterBlocksNJ]

Our recommendation to prevent the loss of this housing: bring back a deal.

Pursue PILOTs similar to this one for other aging towers in exchange for long-term deep affordability as it might be much cheaper than a lot of the unfunded mandates in brand-new construction.

/end

[Better Blocks New Jersey @BetterBlocksNJ]

Rent control would cost ~$53M in lost tax revenue over 30 years on just these two towers due to lower valuations. The citywide version proposed by Councilmembers Little and Ephros: ~$1.7B over 30 years in our middle case, across ~210 buildings.

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[Better Blocks New Jersey @BetterBlocksNJ]

https://t.co/1PwmmdnLbH

[Ian @ILvov37]

@HeinisHardNews @TomZuppaJC @BetterBlocksNJ @eaconner @IvanOvalle19 Restoring the bins is necessary, be it’d be great to see something more ambitious like containerization. If it’s working well in NYC it’d work here too!

[Better Blocks New Jersey @BetterBlocksNJ]

This is on the council agenda this week too.

If you’re planning to come and speak against the expanded rent control ordinance, please consider offering the council viable guidance on how to increase affordable housing production too since downtown’s IZO is broken.

[Better Blocks New Jersey @BetterBlocksNJ]

127 Morgan St is back before the Jersey City Council on Nov 12. The developer could build 21 stories with 15% affordable, or 28 stories with 20%. Taller gets more affordable homes. Whether either gets built is another question.

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[Better Blocks New Jersey @BetterBlocksNJ]

@upzonenj

[Eric Allen Conner @eaconner]

Meanwhile over on @BetterBlocksNJ, we are writing about how to incentivize more income-restricted affordable housing units in the downtown neighborhood with the best transit and access to schools.

If you care about realistic approaches to policy, join us.
https://t.co/tH70FBnpN7

[Better Blocks New Jersey @BetterBlocksNJ]

Second reading is Nov 12. Tell the council where you stand: https://t.co/1RmQRkDa9r

[Better Blocks New Jersey @BetterBlocksNJ]

127 Morgan St is back before the Jersey City Council on Nov 12. The developer could build 21 stories with 15% affordable, or 28 stories with 20%. Taller gets more affordable homes. Whether either gets built is another question.

1/🧵

[Better Blocks New Jersey @BetterBlocksNJ]

https://t.co/1RmQRkDa9r

[Better Blocks New Jersey @BetterBlocksNJ]

Our worry: even 7 more floors may not cover the cost of the extra affordable units. Our ask: vote yes anyway, and count affordable homes, not percentages. If it still can't break ground without a PILOT, drop the set-aside to 10% and focus on density to match Journal Square.

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