NJAA Testifies In Opposition to Legislation that Would Reverse the Exemption from Rent Control for Newly Constructed Senior Apartments
May 10, 2012
On Thursday, May 10th, NJAA testified in the Assembly Housing Committee in opposition to legislation that would roll-back the exemption from rent control for newly constructed senior rental housing. The committee voted to release the bill, A2737, in a partisan 4-2 vote, and it now advances to the Assembly Floor. A-2737 is sponsored by Assemblyman Coughlin (D-Middlesex) and is identical to S-897, sponsored by Senator Vitale (D-Middlesex).
NJAA is strongly opposed to this legislation, which would remove all senior housing from a statewide housing policy program designed to encourage the construction of new affordable rental housing units. This bill would make New Jersey the only state in the nation to impose rent control on newly constructed rental housing and would have a severe chilling effect on the construction of new senior rental housing.