Bipartisan ‘YIMBY’ bill would provide $1.5B in grants to spur new housing

Three U.S. senators—two Democrats and one Republican—will introduce the Housing Supply and Affordability Act that would authorize $1.5 billion for federal grants to local governments.

The funds, to be distributed over the next five years, would be available to communities that commit to increasing their supply of local housing. Local leaders could use the funds to overcome obstacles to new construction, such as density-unfriendly or discriminatory zoning regulations.

Eligible local governments could apply for grants to devise housing policy plans to spur new construction. The bill is designed to help rural areas and smaller cities that struggle with different housing problems than high-cost coastal metro areas. At least 10% of funds would be required to go to governments in rural areas

The bill could end up being encompassed by the $3 trillion infrastructure bill under development by the Biden Administration, according to a Bloomberg news report.

The U.S. is ill-prepared to provide adequate housing for the growing ranks of older people, according to a report from Harvard University’s Joint Center for Housing Studies. Over the next decade, the U.S. population older than 75 will increase by 45%, growing from 17 million to nearly 25 million, with many expected to struggle financially.

Almost a million apartment units are currently under construction in the U.S., says Apartment List.

MFPRO+ News | Dec 7, 2023

7 key predictions for the 2024 multifamily rental housing market

2024 will be the strongest year for new apartment construction in decades, says Apartment List's chief economist.

Codes and Standards | Dec 7, 2023

New York City aims to spur construction of more accessory dwelling units (ADUs)

To address a serious housing shortage, New York City is trying to get more homeowners to build accessory dwelling units (ADUs). The city recently unveiled a program that offers owners of single-family homes up to nearly $400,000 to construct an apartment on their property.

MFPRO+ News | Dec 5, 2023

DOE's Zero Energy Ready Home Multifamily Version 2 released

The U.S. Department of Energy has released Zero Energy Ready Home Multifamily Version 2. The latest version of the certification program increases energy efficiency and performance levels, adds electric readiness, and makes compliance pathways and the certification process more consistent with the ENERGY STAR Multifamily New Construction (ESMFNC) program.

Austin, Texas, has devised a toolkit for creating 'equitable transit-oriented developments,' or ETODs.

Transit Facilities | Dec 4, 2023

6 guideposts for cities to create equitable transit-oriented developments

Austin, Texas, has developed an ETOD Policy Toolkit Study to make transit-oriented developments more equitable for current and future residents and businesses.