The recently passed 2024-2025 New York State budget introduces significant changes impacting various sectors, including health care, public safety, artificial intelligence, and education. Notably, the budget also addresses housing-related concerns affecting landlords, tenants, and developers. Since the expiration of the 421a program in 2022, the real estate industry has sought new incentives to stimulate growth and adapt to the evolving market. This report examines three newly developed programs designed to aid the real estate industry: the “Affordable Neighborhoods for New Yorkers” program, the “Affordable Housing from Commercial Conversions” program, and the “Good Cause Eviction Law.”