Surplus Federal Real Estate for Affordable Housing

The Biden administration recently announced federal actions to lower housing costs and boost the supply of affordable housing. As part of this government-wide effort, the General Services Administration (GSA) will identify and market surplus federal properties that represent the best opportunities for commercial-to-residential conversions. The GSA initiative will continue to convene developers, municipalities, and other stakeholders to learn about opportunities and challenges.

Position

The GSA should prioritize sales and leases of U.S.-owned surplus real estate to private sector developers who can efficiently bring affordable housing to market.

Background

A July 2023 White House statement announced that the GSA will launch an effort to identify under-utilized and surplus assets in the federal real estate portfolio that present the “best opportunities” for public-private partnership, commercial-to-residential projects.

According to the White House, ongoing conversion projects from GSA dispositions currently produce over 1,000 new housing units.

For more information and recent updates, reference our resources below.

Resources

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MORE ISSUES
Affordable Housing
Expanding Housing Supply: Fannie Mae & Freddie Mac
Low Income Housing Tax Credit (LIHTC)
IRS Limitations on Private-Activity Bonds (PABs)
"YES In My Backyard" (YIMBY)
Surplus Federal Real Estate for Affordable Housing