Gov. Sherrill unveils 5-part plan aimed at increasing housing supply, lowering costs in NJ
NEW JERSEY — Gov. Mikie Sherrill on Tuesday unveiled a five-part housing plan aimed at accelerating construction and lowering housing costs across New Jersey, including doubling the number of planned homes on state-owned land.
Sherrill announced the plan during the 2026 Governor’s Conference on Housing and Economic Development in Atlantic City.
Under the plan, the state intends to increase planned housing on state-owned land from 20,000 to 40,000 homes, establish timelines for permit applications and use a new tax credit auction to generate tens of millions of dollars for affordable housing.
The plan was developed by the Housing Governing Council, which Sherrill established through Executive Order No. 17 during her first 100 days in office.
According to the council’s report, New Jersey needs to build an additional 350,000 homes to keep pace with growth, improve affordability and remain competitive.
The plan focuses on five areas: increasing the housing supply in areas where people want to live and work; speeding up the approval process; partnering with municipalities to build and preserve housing; expanding access to housing opportunities; and lowering costs while addressing housing practices the administration considers unfair.
“Too many New Jerseyans cannot afford their rent or mortgage, seniors are being priced out of their homes, and young people cannot afford to buy their first house —all while the actions of the Trump Administration continue to drive up prices and construction costs. We need a new approach, and this plan sets in motion urgent statewide action—bringing together government, builders, labor, business, and community leaders—to speed up housing production, get shovels in the ground, and drive down costs,” said Governor Sherrill. “A home is the foundation on which people build their lives and financial security, and I’m taking strong action to ensure New Jerseyans can afford to build their futures here.”
The administration said work already underway includes advancing transit-oriented housing developments in Red Bank, Bayonne and Linden and launching a permitting dashboard covering six projects representing more than 3,700 potential homes.
The state also has tripled the number of municipalities receiving hands-on housing development assistance, fully funded New Jersey’s homelessness response system for veterans and taken steps aimed at addressing practices that can lead to rent increases, according to the administration.
The housing strategy calls for development near public transportation, jobs and schools, along with the redevelopment of underused state-owned property, vacant office buildings and aging strip malls.
The plan also calls for preserving existing affordable housing, revitalizing downtown areas, expanding opportunities for homeownership and protecting open space and the environment.
Sherrill’s administration said federal policies, including tariffs imposed by President Donald Trump and effects stemming from the war in Iran, are contributing to higher construction and housing costs. The administration also criticized changes to federal consumer protections for renters, homebuyers and homeowners.
The Governor’s Conference on Housing and Economic Development brings together representatives from government, housing, community development, finance, labor, nonprofit organizations and the private sector.
