Friday, February 5, 2016
Rauch Foundation and Others Publish Report that Quantifies Long Island’s Housing Needs
Regional Plan Association, HR&A Advisors Inc., and the Rauch Foundation released new research this week highlighting the high demand for multifamily housing on Long Island. The report, funded by the Rauch Foundation as part of the Long Island Index, uses RPA’s regional population projections to estimate future housing demand on Long Island, and suggests possible strategies for creating an adequate supply of new housing.
The study found that although Long Island has recently started building more rentals, co-ops, condominiums and other multifamily homes than it has in previous decades, a big gap still exists between what is being produced and what the region needs. RPA projects that Long Island could gain 158,000 households by 2030. Yet if housing construction continues along recent trends, only 64,000 new housing units are likely to be developed in the same time period,meeting only 40% of the anticipated need. . .