All articles tagged with #affordable housing
At the World Economic Forum in Davos, Trump plans to outline a housing affordability strategy backed by billionaire investors and international commitments, while critics argue his focus remains on the wealthy and foreign deals rather than working-class relief.
New York City Comptroller Mark Levine says Mayor Zohran Mamdani faces a cumulative $12 billion budget gap—about $2 billion this year and roughly $10 billion next year—and vows to be an activist watchdog, outlining plans to triple the pension funds’ investment in subsidized housing to $3 billion, resume Israeli-bond purchases for the pension portfolio, and audit the Housing Preservation and Development agency to speed housing, while noting tax increases are unlikely unless Hochul includes them in her budget.
California lawmakers are moving a $10 billion housing bond (SB 417) to fund affordable housing, wildfire prevention, and down-payment assistance, aiming for a June ballot with the governor backing the pro-housing agenda; a separate rent-control measure (AB 1157) died in committee, while lawmakers also grapple with SB 79’s implications for transit-oriented development and displacement near mobile-home parks.
The Philadelphia Housing Authority plans to invest $84 million to transform over two dozen vacant properties in Germantown into 121 affordable rental units, with work expected to start by spring 2027. The project aims to revitalize blighted properties, including historic sites, and provide deeply affordable housing for households earning at or below 30% of the area median income. The initiative follows a history of neglect and legal battles involving previous ownership, and is part of broader efforts to improve neighborhood housing.
Outgoing NYC Mayor Eric Adams vetoed 19 bills passed by the City Council, including measures on housing, street vending, and police oversight, citing concerns over bureaucracy and law enforcement. He also convened a new charter revision commission, sparking controversy and potential conflicts with the incoming administration and City Council, which may seek to override some vetoes.
A contentious dispute over the Venice Dell affordable housing project in Los Angeles involves city officials, developers, and state authorities, with the state threatening to cut funding and strip zoning powers if the city continues to block the project, which has faced nearly a decade of opposition and legal battles.
The San Francisco Community Land Trust purchased a five-unit building in the Mission District, securing long-term housing for its tenants and preventing displacement, with the city supporting the $1.55 million purchase through various programs, providing relief and stability to longtime residents.
The mayor of Barcelona warns that Europe's soaring housing costs are a 'new pandemic,' urging the EU to allocate billions for affordable housing to address a social emergency impacting millions and threatening democratic stability.
A billionaire investor group purchased and renovated the Riverview apartment complex in Steamboat Springs, offering below-market rents to local workers without income qualifications, aiming to address the housing shortage and preserve community culture. The initiative highlights a potential model for rapid affordable housing solutions in high-cost mountain towns, driven by private investment and swift execution.
Residents of the deteriorating Northmere SRO building in Uptown were forced to leave after a court-ordered vacate due to unsafe conditions, leaving many with nowhere to go and highlighting the ongoing loss of affordable housing in the area.
Massachusetts has implemented solutions like designating resort towns as 'seasonal communities' to ease housing construction for workers, exemplified by projects like The Forge in Lenox, but the effectiveness of these measures in alleviating housing shortages remains uncertain.
The article discusses the ongoing shortage of affordable starter homes across the U.S., driven by rising construction costs, zoning laws, and market dynamics, which make it difficult for first-time buyers to find suitable, affordable properties. It highlights regional examples, regulatory barriers, and potential solutions like deregulation and financial assistance programs, while advising prospective buyers to consider strategic compromises such as looking outside major cities to improve their chances of homeownership.
A former JPMorgan office building in Manhattan has been transformed into 1,320 apartments with extensive amenities, including recording studios, pools, and gyms, as part of NYC's leading office-to-residential conversion efforts supported by government incentives, addressing housing shortages and adapting to remote work trends.
A 56-year-old freelance travel writer, facing unaffordable rent, built her own tiny house on wheels during the COVID-19 pandemic, which became her first owned home, providing her with security, freedom, and a simplified lifestyle.
Governor Gavin Newsom signed legislation to accelerate housing development and improve affordability in California, including measures to streamline permitting, enforce housing laws, and promote transit-oriented and climate-smart housing, as part of a broader effort to address the state's housing shortage and homelessness crisis.