New Jersey Gov. Mikie Sherrill introduced a five-pillar affordable housing plan that doubles the goal for homes on state-owned and NJ Transit properties from 20,000 to 40,000 units, with a long-term goal of close to 43,000 across 2,300 evaluated acres.
Sherrill announced the new affordable housing action plan during the plenary session at the Governor’s Conference on Housing and Economic Development on Monday, Sept. 29, at Harrah’s in Atlantic City, New Jersey. The plan stems from Executive Order 17 (EO17), which the governor signed on April 27 to accelerate housing production and increase access to housing opportunities.
“New Jersey will need more than 350,000 new homes in the next decade to fill our current gaps and make room for the next generation,” Sherrill said. “We can already see what happens when housing supply falls short. Just look at the current market.”
EO17 set three deadlines to prepare an affordable housing construction action plan. The legislation estimated that the state would need to build at least 350,000 new homes to keep pace with growth. The third deadline, Sept. 24, required the Housing Governing Council, formed as part of EO17, to issue recommendations on five key issues:
🏠Defining housing goals for the administration
🏘️Tracking and accelerating housing production
🏡Developing unutilized and surplus State property into housing
🏚️Coordinating funding and financing processes for housing development
🪴Inventorying and increasing access to affordable housing opportunities
Housing Strategy: Affordable, Fair, Fast
The Housing Governing Council developed a comprehensive review of state-owned land, agency regulations, and development processes to improve housing affordability. Its recommendations come from 47 state agencies and authorities, as well as hundreds of leaders.
The strategy calls for smart development near transit, jobs, schools, and opportunity, as well as redeveloping underused state property, vacant office buildings, and aging strip malls, according to the press release. It also focuses on preserving existing affordable homes, revitalizing downtowns, expanding pathways to homeownership, narrowing racial wealth gaps, and protecting open space and the environment.
In summation, the plan will:
● Deliver more homes where New Jerseyans want to live, work, and stay;
● Increase New Jersey’s “speed to shovel” by making approvals faster, clearer, and more predictable;
● Partner with municipalities to build and preserve housing;
● Expand access to housing opportunities for New Jersey families; and
● Lower costs, fight unfair housing practices, and keep New Jerseyans housed.
The scheme includes working with mayors and councils to find housing solutions that uniquely fit individual communities, Sherrill said at the conference. It also calls for a common affordable housing application, expanded homebuyer assistance, and new affordable housing funding.
“The administration is also leading a systematic approach to cataloging the state’s permits and timeline metrics, speeding up the review process for individual permits, and developing the state’s first permitting dashboard and “shot clock” permit deadlines,” according to the state’s plan.
The permit process will be led by the Department of Environmental Protection (DEP), Department of Transportation
(NJDOT), and DCA. The goals are to ensure transparency and accountability, streamline approval
processes, remove permitting barriers, and reduce delays, at both the state and local permitting levels.
“These efforts are essential to reducing housing costs and getting shovels into the ground on new homes,” per the report.
Additionally, Sherrill said she signed the Fair Act to “further regulate rental algorithms used by apartment owners to illegally collude and increase housing costs.” New Jersey’s Forbidding the Algorithmic Inflation of Rent (FAIR) Act bans landlords and third-party software providers from using shared, non-public data and algorithms to coordinate rental prices or occupancy levels.
She said New Jersey will be a model and leader for the entire country, “for everything from construction to consumer protection.”
More details are available at housingcouncil.nj.gov.
“Too many New Jerseyans cannot afford their rent or mortgage, seniors are being priced out of their homes, and young people cannot afford to buy their first house — all while the actions of the Trump Administration continue to drive up prices and construction costs. We need a new approach, and this plan sets in motion urgent statewide action — bringing together government, builders, labor, business, and community leaders — to speed up housing production, get shovels in the ground, and drive down costs,” said Sherrill. “A home is the foundation on which people build their lives and financial security, and I’m taking strong action to ensure New Jerseyans can afford to build their futures here.”
Pew Research: Solving Housing Costs Would Slash Poverty in NJ
Research released by Pew on Tuesday, Sept. 30, showed that 16% to 34% of poverty in New Jersey is attributable to above-average housing costs. States with the greatest share of poverty attributable to high rent also include: Hawaii, California, Massachusetts, Colorado, Maryland, Connecticut, New York, New Hampshire, and Washington, D.C.
Due to an estimated nationwide housing shortage of 4-7 million, rents are “so far above historical norms that these costs have become a significant cause of poverty,” Pew reported.
When policymakers step in with reforms, the results are noticeable. After reforms, inflation-adjusted rents fell roughly 20% in Austin and Minneapolis, saving renters more than $4,000 annually.
The Governor’s Conference on Housing and Economic Development
The Governor’s Conference on Housing and Economic Development is a premier event that unites leaders from various sectors to address the most pressing housing and economic development issues. The annual two-day event, now in its 30th year, attracts policymakers, legislators, private and non-profit housing developers, real estate planners, affordable housing professionals, financial institutions, nonprofits, policy experts, mortgage finance experts, and other advocates and officials.
Hosted by the New Jersey Department of Community Affairs, New Jersey Housing & Mortgage Finance Agency, New Jersey Economic Development Authority, and New Jersey Redevelopment Authority, this conference is a cornerstone for fostering dialogue, sharing innovative ideas, and promoting sustainable development practices.
The conference features workshops, panel discussions, and keynote presentations exploring “innovative ideas and actionable strategies for a more equitable New Jersey,” according to the governor’s website and conference information. The event also serves as a platform for policy announcements by the governor, an agency official, a policy expert, or an organizational leader.
Breakout sessions and presentations included timely conversations with New Jersey policymakers and housing experts about new policies, evolving programs, emerging funding opportunities, and the challenges shaping the state’s housing agenda in 2027 and beyond.
Policy experts and leaders from the private and public sectors collaborate to find solutions to New Jersey’s biggest housing challenges. Topics covered include housing assistance and financial resources, compliance, the state’s future of housing and economic growth, best practices in climate adaptation and storm protection, case studies of resilient multifamily developments, and more.
“New Jersey is Ready for Its Close-up!” discussed the growth of film and television production in New Jersey, including major studio projects from Lionsgate and Netflix, and the jobs and economic activity they could bring to local communities.
