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 17, 2019
California will enact rent cap bill limiting rent increases to 5% plus inflation
Applies to apartments built at least 15 years ago.
Codes and Standards | Sep 17, 2019
Zero energy buildings can be constructed with no added upfront cost
ROI can be realized in as little as one year.
Codes and Standards | Sep 13, 2019
Researchers use U. of Arkansas buildings as testbed for CLT panels
Investigation could influence future use of the materials.
Codes and Standards | Sep 13, 2019
At least 30 U.S. cities have adopted stricter building energy codes since 2017
Some followed their states in implementing more robust standards.
Codes and Standards | Sep 12, 2019
Illinois law sets maximum retainage on private projects
The change is expected to give contractors bigger checks earlier in project timeline.
Codes and Standards | Sep 10, 2019
Retreat may be the best option for some coastal communities in face of sea level rise
A new study makes the case for relocating in a "strategic, managed" manner.
Codes and Standards | Sep 9, 2019
Free app calculates maximum allowable heights and areas for buildings
A free app that calculates the maximum allowable heights and areas for buildings of various occupancy classifications and types of construction has been released.
Codes and Standards | Sep 6, 2019
Standard for assessing frame deflection using one component polyurethane foams updated
The standard offers guidance when installing fenestration products.
Codes and Standards | Aug 29, 2019
The high cost of gridlock: $166 billion per year
Growing economy means more jobs, more cars, more hours stuck in traffic.
Codes and Standards | Aug 29, 2019
Industry leaders ask for government help as trades shortage worsens
AGC asks for more funding for education and increased immigration to fill gaps.
