"The Preserving Affordable Main Streets Act"; promotes equitable residential development throughout State.

S 2928, "The Preserving Affordable Main Streets Act," modifies zoning rules in New Jersey municipalities to encourage residential development near transit and commercial corridors. It requires municipalities with transit stations to remove minimum parking requirements and use variances for mixed-use or multi-unit developments meeting specific criteria: at least 15 dwelling units per acre, 50% lot area served by water/sewer infrastructure, and location within a half-mile of a transit station. For municipalities without transit stations, it allows similar developments in high-density areas (500+ people/sq mile or 7,500+ population) within a quarter-mile of a main street corridor. The bill also mandates 65-day approval timelines for qualifying projects and voids non-compliant zoning rules if municipalities fail to update ordinances within six months.