HUD Announces $100M in Funding for Program Aimed at Boosting Housing Production
The program is intended to reduce barriers to housing development and make homes more affordable
Aug. 15, 2024
Image: Duncan Andison / stock.adobe.com
In an effort to improve housing production, the U.S. Department of Housing and Urban Development (HUD) has made $100 million in funding available through its new PRO Housing program. The program aims to reduce regulatory barriers, boost housing development, and make renting and buying homes more affordable. Communities across the U.S. can apply for the funding, with grants ranging from $1 million to $7 million for local governments and other organizations.
Common barriers to housing identified in the round one PRO Housing applications include the high cost of land and development, lack of available units, underutilized vacant land and property, aging housing stock, inadequate infrastructure, displacement pressures, risks of climate-fueled extreme weather or environment hazards, high energy costs, and outdated land-use and permitting policies and processes.
