NMHC Chairman Daryl Carter, founder, chairman and CEO of Avanath Capital Management, LLC, represented the apartment industry at a roundtable discussion on June 25 focused on how to stimulate infrastructure investment through public and private partnerships. The roundtable was sponsored by members of the Senate Democratic Steering and Outreach Committee. Only a handful of national leaders were invited to the informal discussion that included representatives from the construction, transportation and commercial real estate sectors. Committee Chairman Senator Mark Begich, D-Alaska, led the discussion and was joined by more than a dozen Senate members.
Carter stressed the significant role that the apartment industry plays in the nation’s communities and the jobs created through apartment development, management and construction. He went on to highlight the shortage of rental supply stressing that to keep up with demand we should be building 300,000 to 400,000 a year, yet just 185,800 were delivered last year. Carter emphasized that federal, state and local regulations and barriers impact the industry’s ability to build affordable rental units in order to meet the changing housing paradigm.
Key Democratic Senators that participated in the roundtable included Majority Leader Harry Reid, Nev., Cory Booker, N.J., Barbara Boxer, Calif., Tom Carper, Del., Bob Casey, Pa., Chris Coon, Del., Dick Durbin, Ill., Jeff Merkley, Ore., Jack Reed, R.I.