Satmar Rebbe Announces Plan To Resolve Housing Crisis

By Mrs. I. Perl

Last Thursday night at the central yahrzeit seuda that took place in Kiryas Joel, the Satmar Rebbe shlit”a announced surprising news regarding the expansion of the community's boundaries.+

He laid out the plans for a massive change in the local housing market, which will completely resolve the ongoing crisis caused by developers demanding astronomical sums for apartments in Kiryas Joel.

Under the Rebbe’s new plan, the market price for an apartment in Kiryas Joel has been set at $300 per square foot, provided the house is purchased for the purpose of living in it. The Rebbe further announced that as many as 2,000 new apartments will be built and sold at the aforementioned price. 

The Rebbe acknowledged the generous support of the philanthropist, Reb Akiva Hersh Klein, who has drastically lowered the prices in the second phase of the V'Yoel Moshe development and is asking only $300 per square foot. 

In addition to the price adjustment, the Rebbe announced that another thousand new apartments will be built on a section of land from the Kiryas Joel Vaad and will be sold at the same, fixed price. Lastly, village officials have imposed a moratorium on apartment permits and will only issue new permits to homeowners who sell their current apartments at the fixed price. 

These regulations will enable the average yungerman or homeowner to acquire their own apartment with peace of mind.