Jersey City mayoral candidate James Solomon today announced a bold and comprehensive plan to tackle the city's escalating housing crisis. The plan directly addresses the issues of rising rents, exorbitant property taxes, and the limited availability of affordable housing. Over the past decade, average rents have increased by 50%, or roughly $1,100 per month, while property tax increases have made it difficult for many residents to remain in their homes. The prospect of homeownership in Jersey City is increasingly out of reach for most residents of the city.

James Solomon said: “We need affordable housing and must hold the developers accountable. For too long the developers have called all the shots and it’s been Jersey City tenants and homeowners who have suffered. Our city cannot thrive if its residents are being priced out. It is imperative to reform the current systems that favor only the few, while our working families struggle. Since coming into office, this has been one of my top issues and it’s why we don’t take any money from Jersey City developers—while my opponents have taken over $300,000. I am always going to be on the side of the people of Jersey City.”

James Solomon’s Housing Plan

Make Developers Pay Their Fair Share for Affordable Housing

• More Affordability: Solomon's plan mandates that all significant new developments citywide include at least 20% affordable units, significantly increasing the current minimum of 10-15%. This requirement will apply to all existing redevelopment plan areas, leveraging all available city financing tools to build thousands of new affordable units.  He will also ensure that any development on city-owned land includes the maximum viable amount of affordable or workforce housing.

• Crack down on Pay-to-Play for Developer Tax Breaks: Solomon will end the "pay-to-play" system for granting developers tax breaks, and institute annual forensic audits of all tax abatements to ensure transparency and accountability.

• More Homes with Rents under $1,000: As part of the drive to build more affordable units, Solomon will use funds collected from development impact fees to include more homes that are deeply affordable, with rents under $1,000. Solomon will also fight to secure Jersey City's fair share of state funding for affordable housing, addressing the disparity in funding compared to similar sized cities.

Create Robust Tenant Protections

• Caps on Rent Increases: Preventing egregious rent hikes by making any rent increase above 7% plus the Consumer Price Index unconscionable unless substantial improvements have been made. This will apply to all residential buildings, with limited exemptions for new construction and owner-occupied properties with four or fewer units.

• Public Database of Rent-Controlled Buildings: Creating a public database of rent-controlled buildings and aggressively enforcing rent control laws, charging landlords maximum penalties for violations.

• Take on Serious Violations: Imposing triple penalties on landlords who fail to address serious habitability issues (e.g., lack of heat or hot water), using the collected funds to make the necessary repairs.

• Ban on Junk Fees: Prohibiting forced broker fees, application fees, amenity fees, move-in fees, and other excessive charges.

• Ban on Algorithmic Rent-Setting: Preventing landlords from using software algorithms to collude and artificially inflate rents.

Keep Communities Together by Supporting Homeownership

• Stabilize Property Taxes: Stabilizing property taxes to enable homeowners to remain in their homes.

• Workforce Housing: Building workforce housing on vacant and abandoned properties for our public servants: first responders, teachers, and healthcare workers.

• Prevent Wall Street Buyouts: Implementing measures to prevent Wall Street investors from acquiring homes intended for families.

Downpayment and Home Repair Assistance: Creating a zero-interest loan program for first-time homebuyers to assist with down payments and for moderate- and low-income homeowners to make necessary repairs.