Odd Lots

Jersey City's Mayor on How the City Built So Much Housing

173 snips
Jun 5, 2025
Steven Fulop, the Mayor of Jersey City and a candidate for governor, discusses innovative strategies for increasing housing supply in a city grappling with affordability and gentrification. He explores the delicate balance between luxury and affordable housing, sharing successful initiatives to attract developers. Fulop emphasizes the need for state-level reforms to improve infrastructure and tackle rising rent costs. He also addresses the complexities of local governance in New Jersey and the importance of collaborative solutions to enhance livability.
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INSIGHT

Supply Expansion Stabilizes Rents

  • Increasing overall housing supply through market rate development helps stabilize rents across the board.
  • Market rate housing and affordable housing must work together to address housing affordability effectively.
ADVICE

Targeted Tax Abatements Boost Growth

  • Map tax abatements to census tracts to incentivize development in targeted lower-income areas.
  • Clarify tax abatement policies to attract new developers and reduce political uncertainty.
ADVICE

Non-Political Marketing Attracts Developers

  • Create a non-political, city-backed marketing campaign to attract developers and residents from nearby areas.
  • Match private developer dollars with public funds to amplify marketing reach and impact.
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