Washington, D.C. Announces an Ambitious Affordable Housing Agenda
Washington, D.C. Mayor Muriel Bowser this week announced a new report by the Housing Preservation Strike Force that includes a set of recommendations Wednesday for preserving the district's existing affordable housing, reports Jen Kinney.
The report's recommendations include "the ambitious goal of maintaining as affordable 100 percent of units currently receiving federal or city subsidy," according to Kinney. The report also recommends the creation of a Preservation Unit "to focus on the issue and a public-private preservation fund to leverage outside investment."
The pressure is on in Washington, D.C. to deal with worsening housing costs and a depleted supply of affordable housing. According to Kinney, "nearly 14,000 affordable housing covenants [are] set to expire by 2020, and 1,000 new residents [are] moving to Washington, D.C., each month…"