The bill would boost housing supply near federally funded transit projects.
On November 2, 2023, U.S. Senators Brian Schatz (D-Hawai‘i) and Mike Braun (R-Ind.) and Representatives Scott Peters (D-Calif.-50) and Cathy McMorris Rodgers (R-Wash.-5) reintroduced the Build More Housing Near Transit Act, bipartisan and bicameral legislation that seeks “to address America’s housing shortage by incentivizing local governments to build more housing near federally funded transit projects.”
In a statement supporting the legislation, National Apartment Association (NAA) President and CEO Bob Pinnegar said that “our nation’s longstanding affordability crisis – fueled by a lack of housing at all price points – demands responsible and sustainable action from lawmakers, and the National Apartment Association (NAA) is proud to support the Build More Housing Near Transit Act as an important step in the right direction. By incentivizing local governments to increase critically-needed housing supply with close access to public transportation, this bipartisan and bicameral legislation will help improve housing access for generations of Americans to come.”
To help increase housing supply, the bill would specifically “direct the Secretary of Transportation to provide a scoring boost to the competitive grant application of public transit projects that include housing development near new stations.”
NAA continues its advocacy to support responsible and sustainable solutions to the nation’s affordability challenges and will keep members apprised of updates as this legislation advances in the U.S. Congress.