MBA Expresses Support for Bipartisan Build More Housing Near Transit Act

MBA and nearly 100 other organizations expressed strong support this week for the reintroduction of the bipartisan Build More Housing Near Transit Act.

In a letter to Reps. Scott Peters, D-Calif., and Blake Moore, R-Utah, and Sens. Brian Schatz, D-Hawaii, and Jim Banks, R-Ind., MBA and more than 100 other organizations including the National Housing Conference, the National Low Income Housing Coalition, the National Multifamily Housing Council and the National Association of Realtors said the United States is in the grips of a severe housing supply and affordability crisis and faces a shortfall of 3.79 million homes that should exist today but do not.

“This imbalance has led to an unacceptable high cost of living in nearly every part of the country and has pushed homeownership out of reach for many families,” the latter said. “Today, our organizations write to express strong support for the reintroduction of your bipartisan and commonsense Build More Housing Near Transit Act to help address this decades-long problem.”

The BMHNTA would direct the Department of Transportation to provide a scoring benefit within the project justification evaluation to project sponsors who submit housing feasibility assessments and demonstrate substantial efforts to align land use and zoning polices to encourage more affordable housing near a proposed transit project. It would also allow federal funding used for affordable housing planning and development within one-half mile of a project station to count towards the total project cost when determining government cost-share.

In simpler terms: the BMHNTA is a targeted bill directing DOT to boost a transit project’s rating if the project includes pro-housing policies for areas along the project route. The incentive this creates for local governments would significantly increase workforces with both easy access to housing and low-cost commutes.

“The failure to address the housing crisis with effective solutions has caused tremendous hardship for working families who continue to see too much of their income go towards rent and are falling further and further away from the American Dream of homeownership,” the letter said. “Thanks to your leadership, the Build More Housing Near Transit Act is a perfect example of how the federal government can use its leverage to provide families with a safe, secure, and affordable place to call home. It is our hope that leaders in both parties continue to recognize the desperate need for supply focused solutions and can pass this critical legislation into law.”