How progressives sabotage their own housing laws
Housing goals backfire when Albany's Common Council gets greedy with increased requirements, making development infeasible.
How Albany's Common Council sabotaged their own pro-housing laws by increasing affordable housing requirements, rendering multifamily development infeasible.
In 2015, the city of Albany implemented a modest requirement that 5 percent of units in projects with 50 or more units be affordable to the working class. This measure did not slow down housing production, as it was a reasonable and achievable goal.
However, in 2023, Albany's progressive Common Council decided to get greedy and override vetoes by the mayor. They increased the affordable housing requirements to 7 percent to 13 percent, with larger projects requiring an even higher share of affordable units. The maximum rents for these units were also lowered, making it difficult for developers to make a profit.
As a result, multifamily development in Albany became infeasible and many projects were put on hold or cancelled. This not only hindered the city's goal of providing affordable housing, but also impacted the overall housing supply.
Mayor Kathy Sheehan, who had vetoed the measure twice, expressed her disappointment in the Common Council's decision. She stated, "Since the Common Council overrode my two vetoes, we have seen a significant decrease in housing production and a decrease in our ability to provide affordable housing options for our residents."
This move by the Common Council highlights the dangers of political greed and the negative impact it can have on well-intentioned housing laws. Instead of achieving their goal of providing affordable housing, they have only hindered progress and made it more difficult for developers to meet the city's housing needs.