NMHC continues to increase its presence on Capitol Hill through visits with congressional members and their staff, participation in committee hearings and through policy forum discussions.
Just this week, NMHC Chairwoman, Sue Ansel, President and Chief Executive Officer, Gables Residential and NMHC Secretary Jim Schloemer, Chief Executive Officer, Continental Properties Company, Inc. testified before the Housing and Insurance Subcommittee at a hearing entitled, “The Cost of Regulations on Affordable Multifamily Development.” The hearing focused on the cost of regulations as it relates to multifamily construction and renovation.
Ansel explained at the hearing, “Government regulation accounts for an average of 32.1 percent of multifamily development costs, according to research by NMHC and the National Association of Home Builders (NAHB). In fact, in a quarter of cases, that number can reach as high as 42.6 percent. The hearing provided a great opportunity for the industry to highlight these costs, and solutions to this challenge. “It’s not easy to build apartments,” “It can take up to a decade to just break ground. Outdated zoning laws, unnecessary land use restrictions, arbitrary permitting requirements, inflated parking requirements, environmental site assessments, and more, discourage housing construction and raise the cost of those properties that do get built.”
“During my career I have experienced widespread and recurrent impediments to cost-conscious apartment development and am all-too-familiar with the consequences of needless delay and regulation,” added Schloemer.
In addition, NMHC submitted comment to a GSE reform hearing on September 6 for the Financial Services Committee.
NMHC PAC is another important part of NMHC’s advocacy work, and NMHC member support is critical to this mission and is greatly appreciated. This election year is proving to be unpredictable and it’s more important than ever to reinforce the strong relationships we have, and support candidates who understand and support our industry.