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
Codes and Standards | Sep 21, 2020
No ease of lumber price spikes in sight
Wildfires strike Northwest timber industry in wake of Covid-19 shutdowns.
Codes and Standards | Sep 17, 2020
Spate of energy code appeals could hamper efficiency progress
Construction and fossil fuel interests oppose portions of latest model energy code.
Codes and Standards | Sep 16, 2020
Heat pumps are the future for hot water
Sustainability policies will drive trend.
Codes and Standards | Sep 15, 2020
Taller timber buildings approved in National Fire Protection Association code
Ensures compatibility with the International Building Code.
Codes and Standards | Sep 14, 2020
Relocation of neighborhoods, the next step in U.S. flood strategy, is underway
Repeated rebuilding after successive floods now seen as bad policy.
Codes and Standards | Sep 10, 2020
Fannie Mae programs provide incentives for multifamily solar
Affordable housing projects can find PV installations to be cost-effective.
Codes and Standards | Sep 9, 2020
Corporate pledges accelerate net-zero building movement
World Green Building Council drives goal of net-zero carbon emissions by 2050.
Codes and Standards | Sep 8, 2020
Study will examine elevator airflow amid COVID-19 pandemic
Researchers to investigate risk of airborne transmission.
Codes and Standards | Sep 4, 2020
Updated selection, application guide for plastic glazed skylights, sloped glazing released
Part of suite of skylight documents by Fenestration and Glazing Industry Alliance.
Codes and Standards | Sep 3, 2020
Turner Construction takes strong stand against racism
Shuts down work sites for anti-bias training.
