NJ Spotlight News
Newark restricts some developments to affordable housing
Clip: 1/24/2023 | 3m 48sVideo has Closed Captions
The aim of a recent ordinance is to stop trend of large investors snatching up properties
Newark -- New Jersey's largest city -- is taking steps to give families a chance to own a decent, affordable home. The city council recently passed an ordinance that requires housing developed on formerly city-owned properties to remain affordable for 30 years. The aim of the ordinance is to stop a trend of large investors snatching up properties that could instead be turned into low-cost housing.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
Newark restricts some developments to affordable housing
Clip: 1/24/2023 | 3m 48sVideo has Closed Captions
Newark -- New Jersey's largest city -- is taking steps to give families a chance to own a decent, affordable home. The city council recently passed an ordinance that requires housing developed on formerly city-owned properties to remain affordable for 30 years. The aim of the ordinance is to stop a trend of large investors snatching up properties that could instead be turned into low-cost housing.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS