Located at 217 Fifth Ave., the project will provide 127 homes, with six affordable homes set aside for households earning 80% of area median income.
On the state and local levels, the real estate industry coped with high demand, low inventory and volatile interest rates as the Federal Reserve tried to battle inflation.
Stephanie Manfredi was re-elected President. Manfredi is a Property Manager at Colliers International.
While the goal of protecting tenants is important, the reality is that this law could have far-reaching consequences that hurt housing affordability and discourage real estate investment.
WHITE PLAINS—The Hudson Gateway Association of Realtors issued a “Call to Action” to its membership on Dec. 30 in opposition of “Good Cause Eviction” legislation currently being considered in Croton-on-Hudson that would restrict the ability of a landlord there to evict a tenant, even in cases where their lease has expired so long as the tenant continued to pay rent.
The bill (Local Law Introductory No. 15 of 2024) would also effectively cap annual rent increases to 3% or 1.5 times the Consumer Price Index for most rental properties with four units or more, unless the landlord is able to prove before a judge that an increase above that threshold is necessary or reasonable.
“While the goal of protecting tenants is important, the reality is that this law could have far-reaching consequences that hurt housing affordability and discourage real estate investment,” HGAR officials stated.
“New York already has some of the strongest eviction protections in the country. This proposed ‘Good Cause Eviction’ law would disincentivize housing providers from maintaining or upgrading properties, limit property rights, and potentially drive small housing providers to sell, reducing the availability of affordable housing,” they added.
“We need your voice to oppose this legislation and protect housing affordability for everyone,” HGAR stated in its Call to Action.
HGAR afforded its members two ways to get involved in its effort to prevent enactment of the legislation:
The first is to join HGAR representatives who will plan attend a Village Board public hearing on Jan. 8, at 7 p.m. to share their concerns on the proposed legislation.
The second way is to sign a petition at: (https://www.votervoice.net/mobile/NYRealtors/Campaigns/119509/Respond urging local lawmakers to oppose “Good Cause Eviction” legislation. This petition is part of HGAR’s coalition efforts to oppose the legislation as it partners with other real estate and business groups across the state.
HGAR concluded its Call to Action, stating: “Together, we can make a difference. Thank you for standing with us in this important effort.”
Located at 217 Fifth Ave., the project will provide 127 homes, with six affordable homes set aside for households earning 80% of area median income.
On the state and local levels, the real estate industry coped with high demand, low inventory and volatile interest rates as the Federal Reserve tried to battle inflation.
Stephanie Manfredi was re-elected President. Manfredi is a Property Manager at Colliers International.
The new 748-square-foot terminal building provides a heated shelter with benches for passengers waiting to board the ferry and a new ticket booth for NY Waterways.
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