October 12, 2017 | Number of The Day
Percentage of affordable housing mandated in new or rehabbed projects in Newark

Newark’s new Inclusionary Zoning for Affordable Housing ordinance requires developers to set aside 20 percent of their residential units for affordable housing in projects that consist of 30 or more new or substantially rehabilitated units. It is part of Newark’s attempt to prevent the kind of gentrification that has driven longtime residents out of Hoboken and Brooklyn.
The ordinance mandates housing affordable to those in different income levels, ranging from 40 percent of the area’s median income to 80 percent. The marketing of the affordable units must give priority to Newark residents. The ordinance applies to all new residential development throughout the city, not just in designated areas. Further, affordable units must be spread throughout a building and not clustered together.