The National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) applaud the passage of the Bipartisan Infrastructure Investment and Jobs Act.
The nation’s apartment industry and our 40 million residents depend on robust, reliable and modern infrastructure. The Act, which consists of a $1.5 trillion investment in roads and bridges, water infrastructure, climate resilience and internet has long been a priority for the nation’s apartment industry.
“Infrastructure and housing are intrinsically linked, and this unprecedented investment in our nation will help lift communities and industries throughout the nation,” said Bob Pinnegar, NAA President & CEO. “By building back our nation’s critical services, the apartment industry can operate more efficiently and we can help ensure that Americans have easier access to the types of housing in the place they want to live. We appreciate the Biden administration and Congress’ efforts to help all Americans with this landmark bill and look forward to building off its success as we work to address housing affordability and other central issues.”
“NMHC congratulates the Biden administration and lawmakers in both parties for their dedicated efforts in achieving this significant investment in communities across the country,” said Doug Bibby, NMHC President. “NMHC has long held that the link between housing and infrastructure is undeniable and that the upkeep, modernization and development of the public services that underpin housing communities is of top importance to our industry.”
As the nation recovers from the depths of the pandemic, the demand for safe and affordable housing has never been more clear. In fact, apartment demand outpaced supply before the pandemic; according to a study conducted by Hoyt Advisory Services, the U.S. needs to build at least 328,000 new apartment homes each year through 2030. The apartment industry stands ready to meet America’s demand for rental housing, but our ability to succeed depends on robust and reliable infrastructure.
This important legislation invests in the critical services that interconnect our communities and support housing providers. This legislation passed the Senate in August and will now go to the President’s desk for signature.
More information on NAA’s viewpoint on infrastructure can be found here.