New York State Enhances Housing and Infrastructure Development with New Legislation
Governor Kathy Hochul's 'Let Them Build' legislation streamlines SEQRA, reducing environmental review delays by up to two years. This reform aims to lower housing costs and accelerate critical infrastructure projects, providing significant opportunities for contractors and suppliers in New York.
Key Signals
- New York State reduces environmental review times by up to 2 years for construction projects.
- Housing costs may decrease by approximately $82,000 per unit due to streamlined approvals.
- Increased procurement opportunities expected for contractors following SEQRA reforms.
"Red tape and duplicative reviews have stopped New York from doing the very building that made us the envy of the world, making our housing more expensive and our infrastructure outdated 6 that ends today."
In a significant move to address the housing crisis and accelerate the development of crucial infrastructure, New York State has enacted the "Let Them Build" legislation, signed by Governor Kathy Hochul as part of the FY27 budget. This landmark legislation represents the most substantial reforms to the State Environmental Quality Review Act (SEQRA) since its inception in 1975. Designed to streamline and expedite housing and infrastructure projects, these reforms seek to eliminate unnecessary regulatory hurdles, which have historically contributed to lengthy project timelines and inflated construction costs.
Agencies
- New York State
- New York City School Construction Authority