WASHINGTON, D.C. – June 16, 2015 – (RealEstateRama) — NJAA provided both written and verbal testimony before the Senate Community and Urban Affairs Committee in opposition to S-2824, sponsored by Senator Stack. The measure would require all new multifamily housing to be constructed with structural frames made out of concrete and steel, and include 3-hour rated firewalls in attics and cocklofts and fire stops on masonry walls every 30 feet.
The bill would make it nearly financially infeasible to construct multifamily housing, especially affordable housing. Estimates range from a 30% to 40% increase in construction costs. With the need to build over 100,000 units of new affordable homes over the next decade, we need to be mindful of any new mandate that would put that goal in jeopardy.
NJAA Executive Director David Brogan testified before the committee, stating that “multifamily housing is built and maintained according to stringent codes and standards, which have served our residents well. S-2824 would replace these nationally accepted standards with new requirements that would be prohibitively expensive and would inhibit the construction of new affordable housing across the State.”
While the committee took testimony, it took no action on the bill. Senator Stack indicated an interest in working with stakeholders over the summer, and we look forward to participating in those discussions.
Click here for a copy of S-2824 and click here for a copy of NJAA’s testimony.
