NEW ALBANY, Ind. — The New Albany City Plan Commission unanimously voted 6-0 Tuesday to make a recommendation to the city council to stop construction on new apartments and short-term rentals for at least a year.
The goal is to increase homeownership in the city.
The decision, pioneered by New Albany Mayor Jeff Gahan, came after a University of Louisville comprehensive housing study showed the city should be focusing its efforts on increasing single-family homes.
The study found that more than one-third of the housing in New Albany is single-person households, a rate that is quickly increasing. And, half the housing units built in the city since 1980 have been apartment buildings and other multi-family housing.
"We would all love to have affordable housing, but what I think we're all missing is what that number is," said New Albany community member Jason Snyder, who has worked in the construction industry for 25 years. "It is very hard to build a 1,200 to 1,300 sq. ft. house for under $300,000. I, personally, don't consider $300,000 house, affordable housing."
Not only would the moratorium pause construction, it would also prevent developers from gaining new permits to build multi-family homes.
"Developers are not going to start new projects before they finish old ones," said New Albany community member Zachary White. "What this would do, I believe, is damage the city's relationship with developers at a time when they're all over the country building new apartments like crazy."
The vote is not final yet. The moratorium proposal will now head to the City Council, which is planning to meet Monday, Feb. 5.
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