The multifamily housing industry is seeing meaningful developments at the federal level this summer, from landmark court victories to bipartisan legislation and crucial funding decisions.
Here are five major federal updates affecting Arizona housing providers:
- Property Owners May Claim Compensation For COVID Eviction Moratorium
A landmark court ruling has opened the door for rental owners to pursue money from the federal government for losses incurred during the COVID-19 eviction moratorium.
The U.S. Court of Appeals affirmed that housing providers can seek restitution under the Fifth Amendment’s “takings clause.”
If your company was financially damaged by the eviction moratorium, you have until August 2026 to join the plaintiffs seeking restitution. Apply here:
https://naahq.org/legal/CDC-eviction-moratorium-lawsuit.
The decision is a major win for property-rights advocates and housing providers who suffered significant income losses during the pandemic.
- Bill Seen As Housing Gamechanger Progresses in Congress
The ROAD to Housing Act advanced out of a key U.S. Senate committee with unanimous bipartisan support. The sweeping legislation seeks to boost housing development by reducing zoning restrictions and streamlining environmental reviews. It also includes $1 billion to incentivize creative local housing solutions and modernizes HUD programs. Backed by the National Apartment Association and National Multifamily Housing Council, the bill is seen as a game-changer for expanding multifamily housing opportunities.
- HUD Must Resume Fair Housing Grants
In a rare rebuke, a federal judge ordered HUD to release funding under the Fair Housing Initiatives Program, which supports community-based organizations to expand equal housing opportunities, stabilize neighborhoods, provide counseling, investigate discrimination and educate communities and housing providers on fair housing law. HUD must issue a timeline for awarding new grants before they expire Sept. 30.
- Senate Proposes Budget Increase for Housing
While the U.S. House proposed keeping HUD funding flat, the Senate is seeking modest increases for Community Development Block Grants and the HOME Investment Partnerships Program. Both are critical to housing development. NAA continues to advocate for full funding of voucher programs and housing affordability initiatives, emphasizing the importance of sustained federal investment in rental housing.
- Federal Reserve Holds Rates Steady Amid Housing Pressures
The Federal Reserve opted to keep interest rates steady in July, citing concerns about inflation and economic overheating. For the multifamily sector, this decision means mortgage and construction loan rates will remain elevated, prolonging challenges to financing housing development.
