President Biden has released his request for the fiscal year 2025 (FY25) budget, following the Administration’s recent announcement of new actions to strengthen housing supply and lower housing costs and the release of the Treasury’s 2024 Housing Agenda. The budget request, while not legally binding, signals the Administration’s priorities and is a jumping off point for the congressional appropriations process for FY25. Despite the spending cap constraints from the Fiscal Responsibility Act of 2023, the President’s budget request proposes nearly level funding for many affordable housing and community development programs, in addition to making historic investments on the mandatory spending side.

Six months after the passage of the Inflation Reduction Act, efforts are underway to ensure that affordable multifamily housing will have pathways to benefit from this historic legislation. Enterprise Community Partners and others in affordable housing continue to work to shape the programs authorized by the IRA through public comment submissions, and through tracking updates and new guidance as it becomes available.

Today, Enterprise Community Partners (Enterprise) released its 2023 Public Policy Priorities, a comprehensive set of federal policy recommendations for the 118th Congress.

President Biden has released his request for the fiscal year 2024 budget, kicking off the start of the FY24 appropriations cycle. The President’s budget serves as a jumping-off point for the House and Senate to draft their bills for the 2024 fiscal year.

Even as inflation cools, housing costs for most Americans remain at unsustainable levels. Historically, manufactured homes have been a critical part of the affordable housing landscape, serving low- and moderate-income Americans and in communities where other affordable homes are often unavailable.

Can empty office buildings help provide a solution to the nation's affordable housing crisis? Policy and real estate leaders across the country – from California to New York City – are looking with interest at ways to encourage the conversion of offices to homes just as downtown districts are struggling to recover from the Covid-19 pandemic.

Even when financial and structural factors line up to streamline the conversion of office buildings to multifamily housing, a tangle of local regulatory and market factors can often stand in the way.