Senior living teams up with real estate industry to support housing standards
LOS ANGELES: Senior living organizations have joined real estate industry partners to back legislation that supports updating housing standards to protect and preserve affordable housing across the country.
The American Seniors Housing Association and Nareit have joined a coalition of national real estate and housing providers, lenders, investors and advocates in supporting the Housing for the 21st Century Act. In a Dec. 15 letter to House Financial Services Committee leadership, the coalition urged continued progress on policies that reduce barriers to housing production and preservation.
The legislation, which also is supported by LeadingAge, would update Department of Housing and Urban Development programs. It includes a requirement for the Government Accountability Office to study barriers to scaling affordable housing supply through the HUD Section 202 Supportive Housing for the Elderly program and Section 811 Supportive Housing for Persons with Disabilities program.
“By updating standards, strengthening program administration, expanding financing pathways, and improving coordination and oversight across federal housing agencies, the legislation supports increased housing supply, improved access to homeownership, and appropriate consumer protections, particularly in high-cost and underserved communities,” the coalition wrote.
Housing affordability, the group said, is a complex challenge driven by sustained underdevelopment, increasing construction costs, regulatory delays and outdated standards. Regulatory barriers, in particular, they said, are disproportionately affecting moderate- and lower-income households, including affordable senior housing communities, and strain economic growth.
“Meeting the nation’s housing needs will require sustained, bipartisan action and close coordination among federal, state and local governments, as well as the private and nonprofit sectors,” the coalition wrote. “This legislation would modernize local development and rural housing programs.”