Sherrill Introduces Her First Bill of the 119th Congress to Lower Housing Costs for New Jerseyans

WASHINGTON, DC — Representative Mikie Sherrill (NJ-11) introduced her first new piece of legislation in the 119th Congress to boost New Jersey’s housing supply and lower costs for families. Sherrill’s INCREASE Housing Affordability Act would bring federal tax credits back to New Jersey to help convert underutilized commercial and office space into residential units, as well as provide federal technical assistance to municipalities to help them identify and advance promising commercial-to-residential conversion opportunities.

The INCREASE Housing Affordability Act is the first pillar in Rep. Sherrill’s Lowering Costs for New Jersey Families Agenda, a legislative package she is beginning to introduce this week to make life more affordable and put money back into New Jerseyans’ pockets.

“I hear from families all across the Garden State that life is just too expensive — and in particular that the cost of housing is far too high. That’s why the very first bill I am introducing this Congress is the INCREASE Housing Affordability Act — legislation to provide federal tax credits for projects that convert vacant commercial and office spaces into affordable residential units, while incentivizing developers to keep prices low and use union labor for construction. I was proud to work with housing advocates, elected officials, and labor leaders across the state to develop this bill to boost our housing supply for the ‘Missing Middle’ — so working families can find homes in their communities, our kids can find housing units in New Jersey as young adults, and our seniors can afford to retire with dignity in the communities they love and call home,” said Rep. Sherrill.

Sherrill’s INCREASE Housing Affordability Act has earned endorsements from the Laborers’ International Union of North America, Greater Middlesex & Morris Habitat for Humanity, Family Promise, New Jersey Realtors, JBWS, Mental Health Association of Morris and Essex, and SchoolHOUSE Connection.

“LIUNA thanks Congresswoman Sherrill for her leadership to create more affordable housing in New Jersey. What’s more, by incentivizing strong labor standards on affordable housing projects, this legislation will help protect workers, stabilize the construction industry, and ensure that public funds are reaching the workers who build and not the dishonest contractors who cheat the system, exploit workers, and line their pockets with public funds gained through illegal and unethical means,” said Michael Hellstrom, Vice President and Eastern Regional Manager of the Laborers’ International Union of North America. “New Jersey needs more affordable housing options, and Mikie Sherril’s proposal will not only help bridge the gap between household income and housing costs, but will lead to stronger communities by promoting economic stability, stronger families, and fairer business practices.”

“The ‘INCREASE Housing Affordability Act’ offers a practical and innovative solution to the housing crisis. By encouraging the conversion of underutilized commercial buildings into affordable residential units, this new legislation will increase the housing supply and leverage existing infrastructure improvements, with little to no impact to natural resources. We applaud Representative Sherrill’s commitment to addressing the housing crisis with a solution that will revitalize communities, create jobs and promote sustainability,” said Liz DeCoursey, CEO of Greater Middlesex & Morris Habitat for Humanity.

“Each year in the Unites States, over 2.5 million children experience homelessness, a crisis exacerbated by the growing affordable housing crisis. Family Promise applauds Rep. Sherrill’s efforts to bring innovative solutions to the table, and we are proud to endorse this legislation, which would expand housing supply for those who need it most,” said Cheryl Schuch, CEO of Family Promise.

“This legislation will create new pathways for residential housing, while addressing the issue of vacant commercial spaces. This will directly impact New Jersey’s housing supply and affordability issue. NJ Realtors® applauds Rep. Sherrill for her leadership on this issue,” said Angela Sicoli, Federal Political Coordinator, New Jersey Realtors.

“A lack of affordable housing can cause survivors to stay in or return to abusive relationships.  Affordable housing empowers victims of domestic violence to escape abuse, support their children’s well-being, and regain independence. Rep. Sherrill’s legislation providing tax credits for the conversion of commercial to affordable residential housing projects will not only improve futures for survivors and their children, it will save lives,” said Diane M. Williams, President & CEO of JBWS.

“Safe, affordable, and stable housing is essential for good mental health. Our long experience at the Mental Health Association has taught us that housing helps reduce anxiety and lift depression. The stress of inadequate housing is all encompassing, especially for our children,” said Bob Davison, CEO of the Mental Health Association of Essex and Morris, Inc. Congresswoman Sherrill’s bill is an innovative solution and an important tool in the mental health tool box. These concrete and actionable steps will make a difference.”

“Lack of affordable housing undermines children’s health, development, and education,” said Barbara Duffield, Executive Director of SchoolHouse Connection. “By incentivizing the conversion of underutilized commercial spaces into affordable housing, Congresswoman Sherrill’s legislation offers a critical opportunity to increase affordable housing options for those who need it most. This innovative approach will help ensure that more children and youth have access to a stable home, giving them a chance to grow, learn, and thrive.”

The INCREASE Housing Affordability Act supports commercial-to-residential building conversions to help boost the supply of affordable housing and lower costs for families. The legislation provides a tax credit for projects that convert underutilized commercial office space into residential units (with bonus credits for new units that are affordable for families at 100%, 80%, and 60% of area median income, as well as for projects that pay prevailing wages to their workers) and creates a federal advisory board to help state and local housing agencies identify and advance promising office conversion opportunities.

Rep. Mikie Sherrill has been a leader in lowering housing costs and expanding housing supply in New Jersey. She secured $3 million in federal Community Project funding to help Morris Habitat for Humanity complete the construction of 25 affordable homes in Morris County. She has brought back millions of dollars to New Jersey in federal Housing Choice Vouchers to help families afford their rent and Public Housing Fund assistance to help New Jersey build and maintain affordable housing units. Sherrill has led the bipartisan Homeless Children and Youth Act, federal legislation that would ensure that children have a safe place to call home every night. Additionally, she has spearheaded legislation to provide incentives for brownfields cleanup and remediation in order to repurpose vacant lots.