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
National Survey Shows ‘Severe, Widespread, and Worsening’ Housing Crisis
Mayors from around the country agree that more support is needed at the federal level to strengthen housing assistance programs.
California’s New Housing Laws: What You Need to Know
The state legislature passed dozens of new laws aimed at improving housing affordability and streamlining the development process to meet rising demand.
Report: DC Needs ‘Immense’ Funding Increase to Address Housing Crisis
Close to 60,000 District households can’t afford their housing costs, according to research from the Urban Institute.
National Parks Layoffs Will Cause Communities to Lose Billions
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A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
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Planetizen
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Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service