On December 15th, as a result of our advocacy and a broad and robust coalition of housing and transit organizations, the Senate passed the 2022 National Defense Authorization Act (NDAA) which included a provision containing the Promoting Affordable Housing Near Transit Act, sponsored by Rep. Adam Smith. This legislation previously cleared the House on December 8 and now heads to President Biden's desk for his signature.
This bill is focused on catalyzing more affordable housing development near transit. Once enacted this bill will help facilitate creative ways to develop new, affordable housing units near city centers or along accessible transit lines. Specifically, the bill establishes a process by which transit agencies can convey land with federal share at zero cost to non-profit or eligible third-party organizations for affordable housing development. NAR supported this legislation because of its possible positive impact on housing inventory and affordable transit-oriented development.
NAR will continue to advocate for federal policies that will help achieve housing equity, eliminate systemic barriers to real estate development, and create more homes.