Affordable housing development is expected to soar over the next five years, according to housing experts.
Action by the federal government including recently passed legislation that allocates $322 billion for housing and community development will ignite this sector. The House Financial Services Committee voted in favor of the bill in mid-September.
The legislation includes $80 billion to build, preserve, or retrofit more than 3 million affordable housing units. The bill also provides for $90 billion in rental assistance to low-income renters, with $25 billion for those who have been homeless or are at risk of being homelessness.
Another $80 billion will address a public housing capital backlog. Congressional support for affordable housing grew during the COVID-19 pandemic.
Related Stories
| Aug 16, 2013
Dept. of Homeland Security offers tool to analyze building risk and resilience
The Integrated Rapid Visual Screening tool is designed to determine initial or relative risk and resilience for buildings based on visual inspection only.
| Aug 8, 2013
AAMA releases specification for non-residential fenestration BIM
The American Architectural Manufacturers Association (AAMA) released AAMA 912-13, Voluntary Specification for Non-Residential Fenestration Building Information Modeling (BIM).
| Aug 8, 2013
New green property index could boost REIT investment in more sustainable properties
A project by the National Association of Real Estate Investment Trusts (NAREIT), the FTSE Group, and the U.S. Green Building Council to jointly develop a Green Property Index could help REITs attract some of the growing pool of socially responsible investment money slated for green investments.
| Aug 8, 2013
Boston reaching for solutions to threat of rising sea levels on waterfront development
While Boston officials consider whether to enact new building codes to resist flooding stemming from climate change-induced rising sea levels, developers are already boosting resiliency on new projects.
| Aug 8, 2013
EPA’s National Stormwater Calculator aids developers
The Environmental Protection Agency has released an application called the National Stormwater Calculator that uses soil conditions and rainfall records to estimate annual rainfall and runoff for any location in the U.S.
| Aug 8, 2013
Bipartisan bill would strengthen model building codes to boost energy efficiency
The Energy Savings and Industrial Competitiveness Act, a bipartisan U.S. Senate bill, would strengthen model building codes to make new homes and commercial buildings more energy efficient.
| Aug 2, 2013
Design of world’s tallest wood skyscraper would be more sustainable than steel alternative
Architecture firm C. F. Møller has proposed building the tallest wooden building in the world in Stockholm, Sweden.
| Aug 2, 2013
Texas law expected to help reduce construction payroll fraud
Texas lawmakers want to get tough on construction companies that commit a certain form of payroll fraud, passing a new law recently signed by Gov. Rick Perry.
| Aug 2, 2013
Surveys show parking space requirements far in excess of what is necessary
Officials in the Northwest’s large metropolitan areas have sent survey takers out at night through apartment and condominium lots and garages, recording empty and full spaces, and comparing their tallies with the number of apartments.
| Aug 2, 2013
Netherlands Institute of Ecology built to zero waste principles
The Netherlands Institute of Ecology was designed and built to be the most sustainable building in Holland and incorporate the zero waste principles of Cradle-to-Cradle design.
