Housing developers in the District say the industry is on the verge of collapse due to ballooning unpaid rent debts.

Washington, D.C. affordable housing developers are sounding the alarm as many of them face foreclosures and budget shortfalls. As Jon Banister explains in Bisnow, “The owners of tens of thousands of income-restricted apartments are at risk of losing their properties, jeopardizing the future of affordable housing in the nation's capital.”
Local developers say the entire industry is at risk of collapse. “More than 80% of housing properties that have received D.C. funding aren't bringing in enough rental income to pay their mortgages and maintenance costs, according to the District's Department of Housing and Community Development.”
“The scale of the crisis is viewed as existential: 22,000 units that house 48,000 vulnerable residents are at risk of foreclosure today, according to DHCD.” The District’s affordable housing developers currently face $12.7 million in rent delinquencies and blame pandemic-era policies for an extended eviction process.
District Council Member Robert White says “the industry has reached a ‘crisis point,’ and he is working to figure out what policy changes the council can make to help fix the issue and prevent more housing operators from shutting down. White is considering proposing changes to pandemic-era eviction policies and searching for more money to deploy to tenants who can’t pay rent.”
FULL STORY: ‘The Whole Industry Could Collapse’: D.C.'s Housing Providers Face An Existential Crisis

Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.

North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.

Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

Santa Barbara Could Build Housing on County Land
County supervisors moved forward a proposal to build workforce housing on two county-owned parcels.

San Mateo Formally Opposes Freeway Project
The city council will send a letter to Caltrans urging the agency to reconsider a plan to expand the 101 through the city of San Mateo.

A Bronx Community Fights to Have its Voice Heard
After organizing and giving input for decades, the community around the Kingsbridge Armory might actually see it redeveloped — and they want to continue to have a say in how it goes.
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