Newsbits

Biden’s $213 billion plan to save affordable housing

President Biden’s massive infrastructure proposal includes some of the most ambitious affordable housing measures in history.

President Biden at his first Cabinet meeting, 1 April 2021

President Biden at his first cabinet meeting, 1 April 2021 in which he presented his plan for affordable housing.

Crucially, the $213 billion wouldn’t just be direct federal funding. It would go toward tax credits, grants, and public-private partnerships, which would ultimately help build and update more than 2 million units of affordable housing.

But creating affordable housing to meet the country’s needs will take more than just money. Community buy-in is a huge factor as well. The plan attempts to address some of those issues by incentivizing cities to loosen zoning restrictions and parking requirements that can hamper local development. The infrastructure bill is a long way from passing, but its focus on grappling with our nation’s housing crisis is a good start.  — Aimee Rawlins, Fast Company Compass

The White House Factsheet: The American Jobs Plan, 31 March 2021

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