At the yahrtzeit seudah on of the Bairach Moshe Monday night at the main Beis Medrash in Kiryas Joel, the Satmar Rebbe, Rav Aharon, presented a major update on affordable housing initiatives.

He announced a major new development in Monticello, where hundreds of housing units are being built for the broader community.

These Monticello units are projected to be priced at just $200 per square foot.

Approximately 80 families are already living in the area, with approvals already secured for an additional 300 units.

The project is intended for the entire heimishe community, not limited to Satmar.

The Rebbe stated that once these homes hit the market, there will be no justification for heimishe families to remain in Brooklyn due to high housing costs.

Additional details about the Monticello project are expected to be released in the coming days.

Apartment prices in the center of Kiryas Joel for Satmar Chassidim of the will be set at $300 per square foot.

Apartment prices in the expanded areas of Kiryas Joel will be available for under $250 per square foot.

The Rebbe noted that the increasing supply of housing in the expanded Kiryas Joel is expected to drive prices even lower.

Sources tell YWN that there are multiple developers working on projects not far from Monticello for thousands of homes that will be year-round communities.

(YWN World Headquarters – NYC)