Governor Mikie Sherrill on Tuesday announced a sweeping new housing affordability plan aimed at accelerating construction, reducing permitting delays and expanding housing opportunities across New Jersey.

Speaking at the 2026 Governor’s Conference on Housing and Economic Development in Atlantic City, Sherrill announced that the state plans to double its previously planned housing development on state-owned land from 20,000 to 40,000 homes. The administration also plans to establish clearer deadlines for permit applications and launch a new tax credit auction expected to generate tens of millions of dollars for affordable housing.

The plan follows Executive Order No. 17, which Sherrill signed in April to create a Housing Governing Council and direct state agencies to review state-owned land, regulations and development procedures for ways to accelerate housing production.

According to the Governor’s Office, the council concluded that New Jersey needs approximately 350,000 additional homes to keep pace with population and economic growth and address housing affordability.

The administration’s five-part strategy focuses on increasing housing supply, speeding up approvals, working with municipalities to develop and preserve housing, expanding access to housing opportunities and lowering costs for renters and homeowners.

State officials said efforts already underway include transit-oriented housing projects in Red Bank, Bayonne and Linden; a permitting dashboard covering projects representing more than 3,700 potential homes; expanded assistance for municipalities; and additional efforts aimed at preserving affordable housing and encouraging redevelopment of underused properties.

Sherrill previously announced plans for housing development on state-owned and transit-related property, including projects in Bayonne and Linden.

The broader strategy also calls for redevelopment of vacant office buildings and aging shopping centers, additional housing near transportation and employment centers, expanded homeownership opportunities and preservation of existing affordable housing.