The Albany Common Council is set to consider a legislative amendment that would ease the city's affordable housing requirements for new construction.
Albany enacted its inclusionary zoning law in 2019. The law requires residential builders to set aside a portion of units for lower and middle-income residents.
But as building has stalled, Albany Mayor Dorcey Applyrs wants to make it easier for developers to construct new apartments.
In her prior capacity as chief city auditor, Applyrs released a housing audit in December. The Democrat says the audit found a lack of new development.
"The data showed that our market rate development flat lined for about two years, or a little more than two years," said Applyrs. "And so, with the amendments proposed, what we're seeing is a refreshed energy in investing and developing housing in the city of Albany, and so it's an exciting time."
Applyrs' proposal would decrease the percentage of affordable units required to be set aside in new construction from a max of 13% to 5%. The plan also raises the affordability threshold from 60 to 70% of the area median household income, among other changes intended to make it easier to build.
But Canyon Ryan, executive director of advocacy group United Tenants of Albany, has concerns.
"We shouldn't be catering our housing policies to luxury and high-income developers," said Ryan. "We should be catering our housing policies to low-income tenants that need affordable housing in the city."
Under the proposal, developers of new buildings can choose to pay the city $50,000 per unit to avoid the affordable housing requirement.
Common Council Majority Leader Alfredo Balarin supports the amendment. He said the proposal is a compromise.
“It makes it less favorable for developers to buy out, which is the goal of the policy is to have it so that when we are building and developing and growing our city," said Balarin. "We have some portion of that development that is affordable for residents to make less than 55,000 a year.”
Balarin supports language that directs the developers' buyout funds to other housing initiatives in Albany.
“So those funds are not going to go back into the city general fund," said Balarin. "They're going to go back specifically to address affordable housing in our city. So, it's going to go directly back to residents.”
Ryan, however, remains skeptical.
"I also think that in the grand scheme of financing, when we're talking about multimillion dollar developments, $50,000 is not as substantial as it seems on paper," said Ryan. "Especially when we're considering that it's only 5% of units."
The common council is set to consider the proposal tonight.
