Biden Administration Allocates $85 Million to Boost Affordable Housing in Denver and Philadelphia

Jun 26, 2024, 05:48 PM

The Biden administration announced on Wednesday the allocation of $85 million to 21 state and local governments to address barriers to developing affordable housing. The funds, distributed through the Department of Housing and Urban Development, aim to help local governments update housing developments, modify land use policies, and streamline permit processes. Vice President Kamala Harris emphasized the administration's commitment to building 2 million units of affordable housing. Specific allocations include $4.5 million to Denver and $3.3 million to Philadelphia. Representatives Derek Kilmer, Diana DeGette, and Dwight Evans highlighted the importance of reducing barriers to housing construction. The initiative is part of a broader effort to lower housing costs and increase housing supply across the nation.