Dive brief:
- A new bipartisan bill, the Build Hubs Act, aims to boost housing construction near transit hubs across the country. Sen. John Curtis (R-Utah) and Sen. Lisa Blunt Rochester (D-Del.), both members of the Senate Environment and Public Works and Commerce, Science and Transportation committees, introduced the legislation on Jan. 14.
- The bill proposes changes to improve the usability of key infrastructure loan programs that allow HUD and the Department of Transportation to collaborate and prioritize transit-oriented development projects. It would also prioritize affordable TOD housing for low- and moderate-income earners.
- The Homebuilding, Unlocking Benefits and Services Act has the support of a number of housing and urban planning industry groups, including the National Apartment Association, the National Association of Affordable Housing Lenders and the National Association of Home Builders.
Diving knowledge:
Dense, passable, mixed-use building developments close to public transport is a development strategy that uses land efficiently, spurs revitalization and improves access to housing, jobs and services, according to a press release from Blunt’s Rochester office.
In recognition of the direct link between housing and transportation, the Infrastructure Investment and Jobs Act of 2021 amended the Transportation Infrastructure Finance and Innovation Act and the Rail Rehabilitation and Improvement Financing program to include certain TOD projects.
However, TOD projects funded by TIFIA and RRIF have yet to reach their full potential due to unforeseen gaps in their authorizations, according to supporters of the bill. The Build HUBS Act aims to solve this and other problems.
“The Build HUBS Act helps us maximize transportation investments, make better use of public land, and empower local leaders to use existing infrastructure programs more effectively to build housing where it matters and makes sense,” Curtis said in the statement.
Here’s what the Build HUBS Act would do:
- Extend TIFIA and RRIF until 2031
- Clarifying the definition of transit-oriented development to “better capture the wide range of transportation assets that can anchor TOD in communities of all sizes.”
- Implement a delegated lending model to maintain federal oversight while embracing the efficiency and expertise of the private sector
- Speed up processing times for project review and funding.
- Waiver of certain National Environmental Policy Act requirements, such as office-to-residential conversions and infill development
- Encourage existing loan programs to prioritize projects that promote workplace housing
The legislation is being spearheaded in the House of Representatives by Rep. Laura Friedman (D-Calif.) and Rep. Mike Lawler (RNY). It has been moved to the Transport and Infrastructure Committee of the Chamber.
“Addressing our housing affordability crisis means using every tool at our disposal,” Blunt Rochester said in the statement. “Investing in transit-oriented development will have a positive impact on housing affordability, local economies and quality of life.”
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