KIRYAS JOEL (VINnews) – The Satmar Rebbe announced a plan to develop discounted housing for the broader ultra-Orthodox community in New York, saying the initiative would aim to ease mounting affordability pressures in Brooklyn and surrounding areas.

Rabbi Aron Teitelbaum of Kiryas Joel speaking Monday at a commemorative gathering marking the 20th anniversary of his father’s passing, the late Moshe Teitelbaum — known as the “Be’er Moshe” — the Rebbe said he had been meeting with multiple developers to advance a large-scale housing effort.

“I have sat with several developers to see how we can establish affordable housing for the general community,” he said, according to attendees.

Under the plan, housing prices in the new development are expected to be roughly one-third lower than current prices in Kiryas Joel, where strong demand has driven costs to about $300 per square feet. The new project is expected to offer units at approximately $200 per square feet.

Developers are planning to build thousands of housing units in Monticello, located in the Catskills region, where a sizable Orthodox Jewish community already exists alongside synagogues, schools and kosher retail infrastructure.

The Rebbe said the initiative is intended not only for Satmar community but for the wider Charedi world, including residents of Brooklyn neighborhoods such as Williamsburg and Borough Park, where housing costs and property taxes have surged.

He urged prospective buyers not to overpay or be pressured by brokers, warning that doing so could drive prices higher.

“There are enough apartments for everyone,” he said. “Do not pay more than the agreed price.”

The announcement follows earlier efforts in Kiryas Joel to stabilize housing prices, where apartments currently sell for about $3,000 per square meter within the village and roughly $2,500 in surrounding areas.