Technology and policy are just two factors shaping the future of affordable housing.
As housing costs continue to rise and housing supply tightens, public opinion and policies in the US are shifting to support the development of more affordable housing. That, along with trends in technology and construction, presents a bevy of opportunities for affordable housing in 2024, say Mary Jo Minerich and Amanda Markovic, AIA, of architecture firm GBBN.
In a recent article for Building Design and Construction (BD+C), Minerich and Markovic highlighted several trends they foresee in the upcoming year:
- Emphasis on sustainability, including Passive House design, sustainably sourced material selection, and site selection that fosters sustainable, resilient, and equitable communities.
- Improved aesthetics, moving from bland and neutral designs to well-designed projects that enhance surrounding neighborhoods and counteract historic stigma associated with affordable housing.
- Use of technology to streamline projects, including augmented reality tools for modeling and prefabrication for construction.
- Policy changes, from upzoning and parking exemptions to the creation of new local affordable housing funds.
- Inflation Reduction Act (IRA), which presents opportunities to combine affordable housing initiatives with IRA financial incentives for renewable energy, sustainability, resilient, and equity.
Read the full story: What's next for affordable housing in 2024?
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