New Jersey Assembly Bill A5252

New Jersey 2022-2023 Regular Session

• Introduced: 2/28/23
• Refer: 2/28/23

Caption

Increases maximum municipal percentage of affordable fair share housing satisfied by age-restricted units to 50 percent.

Summary

Assembly Bill A5252 seeks to amend current legislation concerning affordable housing in New Jersey by increasing the maximum percentage of a municipality's affordable fair share housing obligation that can be satisfied by age-restricted units from 25 percent back to 50 percent. This change reinstates provisions that had been modified by previous regulations and aims to help municipalities meet their affordable housing goals more effectively, particularly for older residents who may prefer age-restricted living environments. The bill addresses the impact of legal challenges that led to the Council on Affordable Housing's regulations being partially invalidated, which had reduced the percentage permissible for age-restricted housing. By allowing municipalities to meet half of their affordable housing obligation through age-restricted units, proponents argue that it could ease the burden on local housing obligations while providing necessary housing options for the aging population. Supporters of A5252, including various housing advocacy groups and local officials, believe the legislation is a crucial step toward enhancing the availability of affordable housing options that cater specifically to seniors. They contend that age-restricted housing can relieve pressure on the broader housing market and ensure that older adults have access to affordable living arrangements that suit their needs. Conversely, some critics have raised concerns that the increased allowance for age-restricted units may limit the diversity of housing options available to the general populace and potentially neglect the housing needs of younger families and individuals. They argue that overly emphasizing age-restricted housing could lead to a lack of broader affordable housing developments in municipalities, thus failing to address the wide-ranging affordable housing crisis in New Jersey.