U.S. Rep. Adam Schiff (D-CA) has introduced the Government Facilities to Affordable Housing Conversion Act, a new bill designed to support the conversion of unused and underutilized federal, state, and local government-owned buildings into affordable housing units.
If passed into law, the Government Facilities to Affordable Housing Conversion Act would direct the Department of Housing and Urban Development, the General Services Administration and the Office of Management and Budget to collaborate in identifying vacant and underutilized federal buildings that would be suitable for residential use development. The agencies would maintain the public list sale opportunities and provide an annual report to Congress on these efforts.
The legislation also creates a new grant program to support states and local governments to undergo similar conversion efforts, and it would provide additional funding to study the effectiveness of office building to residential property conversions.
“The United States is facing an unprecedented housing inventory shortage. As a result, renters are faced with increased housing costs associated with an under-supply gap of 5.5 million units. The National Association of Realtors thanks Congressman Schiff for introducing the Government Facilities to Affordable Housing Conversion Act, which incentivizes the conversion of unused government buildings into affordable housing units. It is critical for Congress to create new ways to incentivize affordable housing development, and NAR commends Congressman Schiff for his leadership on this issue,” said Kevin Sears, President of the National Association of Realtors.
Schiff’s legislation – which is co-sponsored by Reps. Jimmy Gomez (D-CA) and Gabe Amo (D-RI), was praised by National Association of Realtors President Kevin Sears, who said, “It is critical for Congress to create new ways to incentivize affordable housing development, and NAR commends Congressman Schiff for his leadership on this issue.”
Schiff, who is the Democratic candidate in this year’s election for the U.S. Senate seat from California, stated, “By repurposing government buildings that have outlived their original use, we’re not only making efficient use of our resources but also increasing the supply of affordable housing. We cannot stand by while the housing shortage displaces families and erodes the middle class. It’s time to employ a broad range of strategies to ensure that every American has access to a safe, affordable place to call home.”
