The plan is expected to produce roughly 4,350 income-restricted homes—enough to house more than 10,000 New Yorkers.
While environmental groups praised the law, natural gas and construction and home building trades organizations, including the New York State Builders Association and the AFL-CIO— railed against the all-electric mandate and filed a federal lawsuit to block the legislation from going into effect.
Fitch expects annual home price growth to be flat in 2026, slowing from 1.5% in 2025 and 4% in 2024.
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