Governor Hochul Unveils Budget For Fiscal Year 2026
Governor Kathy Hochul has unveiled her fiscal year 2026 Executive Budget, which among state-wide initiatives, includes a number of measures to tackle New York City’s housing crisis and promote real estate development in the city. Central to the budget is the allocation of $1 billion over five years to Mayor Adams’ “City of Yes” initiative, which will fund housing construction and places an emphasis on zoning reforms to boost density. Another $760.5 million in discretionary funding has been allocated for certified Pro-Housing Communities, including $100 million for infrastructure upgrades to support new developments.





