NJ A5318

Reduces the required affordability period from 30-40 years to a minimum of 10 years for low- and moderate-income housing units created through middle housing construction or conversion projects

Defines "middle housing" as buildings containing 2-4 housing units, including connected townhouses

Defines "middle housing conversion" as renovation or reconstruction of buildings with 4 or fewer units to increase affordable housing, including construction of accessory dwelling units

Units qualifying for the reduced affordability term must be newly constructed or converted and initially marketed for sale or rent after the bill's effective date

Intended to encourage housing density and discourage urban sprawl by lowering barriers for smaller-scale affordable housing development