Michael Hong

Avid citibiker, urbanist, public transit lover, yimby, affordable housing development, single 🏳️‍🌈 l MA City Planning @WeitzmanSchool @Penn, BA/BS @Penn_state

[Better Blocks New Jersey @BetterBlocksNJ]

Nobody makes tough topics easy to understand quite like @NickZurawski.

Speaking abouting selling surplus city land land and the city's budget, "If you didn't have a deficit and you didn't have the land, would you go $80 million in debt to buy it?"

We hope the answer's no.

[Jamie LeFrak @Jamie_LeFrak]

So here is a question about Jersey City that seems simple and straightforward but it is applicable to a lot of legacy American cities and begs for a lengthy answer.

The fiscal crisis grinding down Jersey City is the exact same one constraining almost every post-industrial, Blue-model municipality in America: legacy retirement liability.

​Jersey City now spends nearly 30% of its annual budget on pensions, retirement benefits, and healthcare costs—with $100 million swallowed by pensions alone. Worse, the public-sector retirement wave began hitting around 2005 (a decade ahead of the private sector) and is on track to reach a terrifying crescendo in 2034. For Jersey City, this means the next eight years will be a grueling cycle of crushing austerity and asset seizure through rising real estate taxes.

​With that backdrop in place, let’s address the core question: Will an expanded tax base solve this? ​Yes—if that tax base consists of high-rent, market-rate housing or, better yet, commercial property, which generates massive revenue while demanding virtually no municipal services. Furthermore, high rise apartments rarely strain local school districts, as multi-family developments yield far fewer school-age children per capita than single-family homes.
​In a vacuum, these new ratables should flatten future tax growth.
​The reality, however, is that escalating retirement liabilities create constant upward pressure on spending. To balance the books, city leaders have continually deferred the vital capital infrastructure projects that catalyze future growth. When infrastructure stalls, economic development freezes. This arrested growth has left Gens M, Z and A deeply frustrated, wondering why urban life never seems to get better.
​Rather than leveling with younger generations and admitting that societal resources are being consumed by retired boomers, political leaders point to other convenient scapegoats. This mis-direction and buck passing has driven highly distortive political outcomes—most notably, "smash-and-grab" tax policies like payroll taxes and pied-à-terre penalties. While these gimmicks offer a brief revenue spike, they invariably backfire as the targeted taxpayers decamp, which causes profound, unrecoverable civic damage.
​Fortunately for Jersey City, its development potential should be massive enough to outrun the pension problem. If local homebuilders can rapidly deliver 20,000 new market-rate apartments (and we can!), we could grow combined tax revenue by $300 million to $400 million. That growth would provide the exact fiscal breathing room Jersey City needs to avoid the trap of distortive taxation.
​The outlook is bleaker across the Hudson. In New York City, the "smash-and-grab" phase has already begun. Worryingly, Jersey City's ultimate risk also remains tied to its neighbor: if NYC fails to enthusiastically welcome employers and emplyment, the productive engine of the entire region will quietly relocate, leaving a massive urban tragedy in its rearview mirror.

[Michael Hong @Mike_Hong]

@eaconner I feel like accessible transit to jobs centers and high density housing around transit are so under appreciated in discussions around “lifting all boats”

[Michael Hong @Mike_Hong]

@eaconner In a fantasy world, State College would have a train stop and there would be HSR from Pittsburgh to Philly to Newark and NYC. Could be a true an urban economic center of PA. One can dream 💭

[回 @3_under_scores_]

There is parking lot owned by JC Medical Center that, if sold, would provide the city with $31M and another $31M to JCMC. 1700 homes. Solomon is blocking it. Why would the state give JC money when JC feels it has the luxury to lose $31 million to keep a parking lot?

[Michael Hong @Mike_Hong]

This dynamic is not talked about enough.

[Better Blocks New Jersey @BetterBlocksNJ]

.@NickZurawski supports upzoning for 1,000 more homes at 150 Bay Street saying, "any additional giveback you might extract is just a tax in renters in disguise. Developers won't pay for them any more than other countries pay for Trump's tariffs."

[Casey Berkovitz @CaseyBerk]

“If we want a truly affordable city, it can’t just be a promise for a few ZIP codes — it has to be a reality everywhere,” @NYCMayor Mamdani said in a statement. “I’m encouraged to see this project advancing.”

[Better Blocks New Jersey @BetterBlocksNJ]

Reiterating our call to action to support more housing (including 150 income-restricted affordable units) near transit in downtown Jersey City.

It is essential the city council know the public wants more housing near transit. A simple email works (samples in link below).

[Michael Hong @Mike_Hong]

Nailed it 🎯

[Ramit Sethi @ramit]

This is fun to watch but this is not why your housing is expensive

Your housing is expensive because your neighbors and parents systematically vote to prevent more housing from being built

[回 @3_under_scores_]

We now have at least five independent academic research groups using different datasets and different methods coming to the same conclusion: Expanding market-rate housing supply helps low-income renters.

[Jonathan Berk @berkie1]

"[Researchers found] new housing freed up older, cheaper apartments, which, in turn, became occupied by people leaving behind still-cheaper homes elsewhere in the city, and so on... The paper estimates the tower’s 512 units created at least 557 vacancies across the city."

[Patrick Ambrossi @PatrickAmbrossi]

Jersey City - 250 affordable & workforce housing units, new public school build out, and pedestrian space are in danger of not happening! Help us in telling City Council that projects like 150 Bay help address our affordability crisis and helps working families stay in Jersey City!

The City Council has to approve a change in zoning - that’s it!

Mayor Solomon ran on mandating 20% affordable housing in large scale projects like 150 Bay - this brings in 25% + 2 major community givebacks. This should be home run, however, Mayor Solomon has not shown support for this project.

Reach out to your Council Representatives and let them know that housing is desperately needed in the wealthiest part of Jersey City.

See my link in bio for the contact info for our Mayor and City Council. Share this video - tag them.
#jerseycity #zoningreform #downtownjc #affordabilitycrisis

[Michael Hong @Mike_Hong]

Inject this into my YIMBY veins!

[NYC Planning @NYCPlanning]

In a city that moves a mile a minute, it shouldn’t take two years to get an affordable home through environmental review!

Watch @NYCMayor stand with @GovKathyHochul to support streamlining state SEQR rules so we can deliver homes to New Yorkers faster & drive housing costs down.

[Michael Hong @Mike_Hong]

@3_under_scores_ This is embarrassing.

[Michael Hong @Mike_Hong]

@eaconner I heard that the Pompidou was relocating to 808 Pavonia. Is that also dead?

[Michael Hong @Mike_Hong]

@shteivred My hope is that he comes to this conclusion and embraces development across the board to expand the tax base. It seems to be the most logical answer.

[Michael Hong @Mike_Hong]

People underestimate how these touch points of support have an outsize impact on voters. This is a great initiative and props to @NYCMayor

[Mayor Zohran Kwame Mamdani @NYCMayor]

Yesterday we kicked off NYC’s Free Tax Prep season. That means filing your taxes at zero cost, keeping every dollar of your refund, and not getting ripped off by for-profit companies. 

Nearly half of all New Yorkers qualify. Get help—virtually or in person—at https://t.co/b86ereZ0oo

[ProPublica @propublica]

BREAKING: The two federal immigration agents who fired on Minneapolis protester Alex Pretti are identified in government records as Border Patrol agent Jesus Ochoa and Customs and Border Protection officer Raymundo Gutierrez.
https://t.co/8WGMAODKRd

[City of Hoboken @CityofHoboken]

UPDATE from Mayor @HobokenEmily Jabbour regarding ICE operations today near the 9th Street Light Rail Station.
More info and resources: https://t.co/XKWapheVPQ

[Michael Hong @Mike_Hong]

@3_under_scores_ He might turn out to be the most YIMBY progressive mayor with the direction he is going. Really love what he is doing. What a stark contrast to some other Mayors.