Baba Afolabi’s Post

A major win for housing in NYC. The City Council’s passage of the City of Yes proposal marks a turning point in tackling the city’s housing crisis. By streamlining zoning, this plan enables vital #AffordableHousing growth and economic revitalization. https://lnkd.in/dAN-GAhF #CRE #HousingSolutions

🗽 This week, in a bold move to combat the deepening housing crisis, the New York City Council has unanimously passed the 'City of Yes' initiative, an ambitious plan designed to dramatically reshape housing availability over the next decade. The city has been suffering from high rental burden with 500,000 households spending half their income on rent. The initiative includes: 🏗️ 80,000 New Homes: Aiming to significantly shrink the housing shortage over the next 15 years 💵 $5 Billion Investment: Dedicated to enhancing affordable housing and vital infrastructure 🔃 Zoning Changes: Creating opportunities for more housing near transit and commercial areas 🅿️ Parking Revisions: Reducing parking mandates to support new housing near transit hubs 🌆 This is a monumental initiative to attack the housing crisis. But this is just the start, tackling the housing crisis requires not only bold policy changes but also the adoption of advanced technological solutions and innovations. By accelerating real estate development cycles, we can more effectively meet the urgent demand for housing. The New York Times New York City Council

While student and senior housing may seem worlds apart, both demand high operational management and family involvement in decisions, creating dynamic environments where residents can thrive. I explain more here: https://lnkd.in/gQDN_jeZ #StudentHousing #RealEstateGrowth #InvestmentStrategy #PropertyManagement #DougLarson #RealEstateInvestment #SeniorHousing

To improve housing affordability, community leaders can adopt policies that encourage the production of additional housing units. For most cities, towns, and counties, the most important step is to change land use regulations that limit how much housing can be built – for example, by allowing taller buildings or smaller units, so that more homes can fit on the same size lot. Learn more about how streamlining the development approval process for new homes can contribute to increased affordability in the NYU Furman Center’s Housing Solutions Lab’s Housing 101 Series here:

Since 2017, California has taken an approach to addressing its middle-scale housing challenges, with a focus on expanding affordable housing options like ADUs (Accessory Dwelling Units). Through targeted reforms, the state has streamlined the process for developing these smaller housing units, directly responding to the growing demand for diverse, accessible housing solutions. By leveraging insights from successful case studies across other regions, California has implemented policies that reduce barriers and increase housing supply without altering the character of existing communities. This thoughtful approach, supported by the Casita Coalition and Zillow, offers a clear model for other states facing similar housing crises. The key lesson: evidence-based policy changes, informed by proven strategies, can play a crucial role in addressing housing affordability and accessibility.

Questions of housing and land-use policy have been considered the province of local governments for decades, reaching back as far as the invention of zoning in the early 20th century. In some respects, it’s been the most meaningful power cities have and the lever over which local citizens have the most direct control. Until recently, too, affordable housing has been seen mostly as a big-city problem. In the last decade, however, the high cost of housing — as well as questions about the quality, accessibility and stability of housing, especially for low-income people — have become widespread concerns in suburban and rural areas as well. State policymakers have begun advancing ambitious housing policies of their own, and not just in coastal areas. To date, no state or city has figured out how to address the lack of affordable and accessible housing at the scale that’s needed. But many experiments are underway, and the pressure on lawmakers at every level of government to act is only growing more intense.

Washington, D.C. is facing a mounting challenge in affordable housing. As reported by The Washington Post, the median rent for a one-bedroom apartment has jumped 8% in the past year, now reaching $2,800 per month. This spike underscores several critical issues: Decline in Affordable Units: Over the past decade, the city has lost more than 20,000 affordable housing units, worsening the crisis. Increased Financial Pressure on Renters: Around half of DC renters are now dedicating over 30% of their income to housing, placing significant strain on their finances. Policy Gaps: Current housing policies are falling short in addressing the growing demand, highlighting the urgent need for innovative approaches. For an in-depth analysis of the situation, check out the full article: Washington, D.C. Faces Growing Affordable Housing Crisis Amid Rising Costs. At #ECM, we understand the urgency of developing #effectivestrategies to tackle these challenges and enhance housing affordability. Let’s work together to create meaningful change in our communities.

#InTheNews The San Antonio Housing Trust is preparing to launch a plan that will incorporate new multifamily housing at VIDA. The first phase, The Judy, will offer 90 housing units for seniors, with a focus on accessibility. 🌟 The development within the VIDA San Antonio master-planned community connects residents to growing health, education, and employment opportunities, with Phase 2 anticipated to begin in 2026. Read more. → https://bit.ly/49Ax1uU

Denver’s affordable housing crisis has reached a critical point, impacting the lives of families, essential workers, seniors, and vulnerable communities. The rising costs and lack of accessible housing threaten the diverse, inclusive city we cherish. While local efforts are making a difference, meaningful change requires more funding, legislative changes, and policy frameworks that empower affordable housing developers and market-rate builders alike. Imagine a city where everyone has a place to call home. Where every neighborhood welcomes a variety of housing options, where families, essential workers, and seniors can live affordably and comfortably. This vision is within reach, but it requires all of us—policymakers, builders, and community members—to equally support housing policies that promote abundance, encourage modest increases in housing density within residential neighborhoods, without high-rise buildings or major structural changes to our neighborhoods’ character, and resource allocation across all neighborhoods. As an example of what can be achieved, we (a collaborative efforts of those mentioned above) have already taken meaningful steps and achieved extraordinary success with our nationally recognized Accessory Dwelling Unit program. A new opportunity is within our grasp. This isn’t just about building homes; it’s about creating a balanced, inclusive community where everyone can thrive.

State and Local Housing Decommodification Efforts and Their Implications for Federal Policy https://lnkd.in/eE2quQN3 We identified three main strategies by which state and local housing decommodification efforts are occurring: (1) efforts to create publicly owned, permanently affordable housing; (2) efforts to limit speculation and profit-making in the housing market; and (3) efforts to bolster community and collective ownership. We map the places across the country where each strategy has been recently proposed or enacted.