Stark & Stark Shareholder Gary Forshner, member of the firm’s Real Estate, Zoning & Land Use Group, authored the article “Affordable Housing a Critical Component of N.J.’s Economic Growth,” which was published on June 26, 2015, by the The Star Ledger. The article discusses how the March 10th New Jersey Supreme Court ruling on affordable housing can impact the state’s economic growth.
The landmark decision will give affordable housing oversight back to the trial courts and will require municipalities to zone for more affordable housing projects in order to provide a variety of housing options for households of all income levels. Municipalities have been able to hide from these requirements because they have not been properly regulated by the executive branch. Gary points out, that since 1999, “no administration – neither Republican, nor Democratic – has proposed regulations to comply with the Mt. Laurel decision and the Fair Housing Act.”
Due to poor regulation, there are few viable affordable housing options availabe, and Gary opines that the lack of affordable housing has negatively impacted New Jersey’s economic growth. One point he makes is that more people than ever are moving back home to live with their parents, or out of state, because they cannot afford their own housing in New Jersey. He also argues that businesses may pass on locating in New Jersey because they would need to pay their employees more because the affordable housing options are so limited. He asks, “Why would a company locate in New Jersey when the housing costs are so high and their workers are unable to afford decent housing?”
You can read the full article by clicking here. For more information about this recent landmark decision, please click here.
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