NJ towns with highest housing need (right); New Providence gets new TOD; US homelessness reaches record high; Transit-Oriented Law in Colorado; Ho Chi Minh City opens first metro line (left top-to-bottom)
Article of the Week
Here Are the Top 10 Places Where New Jersey Wants to Build the Most Affordable Housing
Mike Hayes, Gothamist | December 25, 2024
Gothamist identified the municipalities with the largest affordable housing obligations for the 2025-2035 period. These towns must build or rehabilitate thousands of affordable homes to address the state’s housing needs. Some top municipalities have pushed back against their requirements, claiming excessive growth could create negative effects. Others recently have broken ground on projects or approved developments to meet their obligation numbers.
NJ TOD News
CAMDEN—EDA Approves $17.7 Million Aspire Award for Camden Affordable Housing, Health Center Project
Joshua Burd, Real Estate NJ | December 23, 2024
NJEDA awarded $17.7 million to Parkside Camden Urban Renewal LLC for an affordable housing project and a new health center in Camden’s Parkside Neighborhood. The project will comprise 30 affordable units and over 30,000 sq. ft. of commercial and office space. Residents will have access to a nearby bus stop and a PATCO station within walking distance.
NEW PROVIDENCE—Garden Communities Announces Luxury Development Providence Place Is Borough’s First New Multifamily Option in Decades
Staff, Yield Pro | December 23, 2024
Garden Communities reported that construction at its Providence Place development in New Providence remains on schedule. The project includes 192 rental townhomes, now framed and under roof, and is located half a mile from the Murray Hill NJ TRANSIT station on the Gladstone Branch of the Morris & Essex Line. As New Providence’s first multifamily development in decades, it is slated for completion in spring 2025.
Transit and Equity News
Migrants and End of Covid Restrictions Fuel Jump in Homelessness
Jason DeParle, The New York Times | December 27, 2024
Homelessness in the U.S. reached a record high of over 770,000 in 2024, an 18 percent increase from the previous year. The rise stems from high housing costs, stagnant wages, and an influx of asylum-seeking migrants. Some officials cite migration as a key factor, while others point to economic inequality and housing policy. Adrianne Todman, the acting housing secretary, noted that the January 2024 count no longer reflects current conditions and said the issue is beginning to ease.
NEW YORK—Deeply Affordable Housing Development Opens at 2736 Creston Avenue in the Bronx
Max Gillespie, New York Yimby | December 25, 2024
A new Affordable Housing Services (AHS) site at 2736 Creston Avenue in the Bronx has opened, providing nearly 400 deeply affordable homes for New Yorkers in shelters. Developed by the NYC Department of Social Services (DSS) and The Doe Fund, the project is part of a broader effort to accelerate affordable housing production. The site is near the Kingsbridge Road Subway Station and offers housing, job support, and social services to help residents overcome homelessness.
Regional and National TOD News
NEW YORK—WBP Receives Special Permit for Croton-on-Hudson Condo Development
Peter Katz, Westfair Business Journal | December 26, 2024
Croton-on-Hudson approved a special permit for WBP Development to build 100 condominium units adjacent to Croton-Harmon train station. The site includes a village-owned parking lot and a vacant private parcel. At least 20 units will be designated affordable, with the potential for more if state funding is secured.
COLORADO—As ‘Transit-Oriented’ Law Takes Hold in Colorado, Some See Erosion of Home Rule
Scott Weiser, Denver Gazette | December 22, 2024
A new Colorado law requires metropolitan municipalities to increase density near transit routes to address affordability and climate goals. Opponents argue it undermines home rule and could disrupt contracts and landowner expectations, while supporters see it as a necessary statewide solution to housing and transportation challenges. Municipalities must submit housing density goals by January 2025, with some flexibility for local adaptation.
MASSACHUSETTS—Boston City Group Sells 198 Unit MF Development Site for $4.6 Million
Staff, Boston Real Estate Times | December 22, 2024
Wood Partners acquired a fully-permitted site in Abington for Alta Abington Station, a 198-unit multifamily building near Abington Station on the MBTA Kingston Line. The transit-oriented development, compliant with the MBTA Communities Law, will include 25 percent affordable units and ranks among the largest planned developments in Boston’s South Shore Route 3 Corridor.
MISSOURI—KCATA Continues to Expand Transit-Oriented Community Development (TOCD) in Kansas City
Staff, Missouri Public Transit Association | December 18, 2024
The Kansas City Area Transportation Authority (KCATA) broke ground on two transit-oriented community development (TOCD) projects in December 2024. The Arrive KC development will include 373 apartments along the southern KC Streetcar extension, while The Mohawk will offer 189 rental units and 6,000 sq. ft. of retail space. Both projects aim to improve access to public transit and energize local neighborhoods.
International TOD News
VIETNAM—Ho Chi Minh City Opens First Metro Line After Years of Delay
Nguyen Dien Tu Uyen, Bloomberg | December 22, 2024
Ho Chi Minh City has launched its first metro line after years of funding shortages, rising costs, and bureaucratic delays. Officials hope the line, approved in 2007, will alleviate road congestion caused by narrow streets and increasing traffic. The line will operate 200 trips per day, with plans for six additional metro lines already in development.
MEXICO—Mexico City to Boost Mobility, Security Ahead of FIFA World Cup
Alex Vasquez, Bloomberg | December 20, 2024
Mexico City, co-host of the upcoming 2026 FIFA World Cup, plans to increase investments in mobility and security to prepare for the event. The proposed budget includes a 186 percent increase in mobility funding, aimed at improving access around Azteca stadium. Additionally, the city has proposed a record-high budget for its subway system and public works projects, funded through sustainable debt issuance.