Advancing a more substantial housing supply relies on enacting zoning and land-use reforms. These reforms encompass measures such as facilitating the construction of higher-density housing, easing rigid parking requirements, and granting permissions for the creation of accessory dwelling units (ADUs).
Furthermore, addressing supply chain challenges assumes a critical role in strengthening housing provision. This involves improving the accessibility of construction materials, such as lumber, and offering incentives to motivate developers to embark on affordable housing initiatives.
Finally, favorable financing terms and options can reduce project costs, enhancing the viability of multifamily housing construction. Ultimately, improved financing liquidity fosters sector growth and addresses community housing needs, drawing more developers, boosting construction, and expanding the multifamily housing supply.