Brickell Int'l

Simplified Loan Process

A streamlined and personalized approach.

1. Quick Prequalification
- Fill out the application, and we'll provide competitive terms within 30 minutes. No more long, tedious forms.

2. Terms Agreement
- Once pre-approved, review and agree to the terms. We'll then gather the necessary documents, order a valuation, and coordinate with title and other vendors.

3. Funding Completion
- We'll provide the final terms, draft closing documents, and arrange for signing. Once completed, the escrow releases the loan funds, and your real estate transaction is ready to close!

Our Mission

We're revolutionizing real estate funding.

Swift and Experienced Lending

Our core values are client focus, strong ex*****on, and continuous improvement to meet your real estate needs. No more endless searching for the right lender. We've facilitated over $1 billion in real estate loans, and we're just getting started!

Tailored Real Estate Financing

Our goal is to enhance your real estate business by lowering costs, offering flexible financing options, increasing LTVs, and creating new opportunities. We're dedicated to your success.

Trusted Capital Partner

Trust in our ex*****on. Unlike many lenders, we have the capital to fund every deal we approve. Backed by wealthy and smart investors, we ensure you reach the closing table with confidence.

Brickell International Realty - “Unlock the potential of your money with strategic real estate investments”

Founded in 2019, Brickell International Realty is a real estate brokerage firm focus on real estate investments for us residents and foreigners.
Our team can help investors maximize their investments and create passive income opportunities in real estate. We offer hands-on guidance, tailored advice, and expertises to ensure your investments are secure. By investing with Brickell International Realty, you will be well on your way to unlocking financial freedom.
We pride ourselves on sharing real estate expertise and best-in-class customer service with a level of transparency that reflects our respect for our investors. Those are our two of most fundamental brand missions.

Our Services:

* Advise clients on purchases or developments.
* Research historical site data, prices and market conditions.
* Conduct market studies.
* Advise clients on property leasing best practices and laws.

Marketing Strategy

Brickell International Realty implements a tailored approach to the marketing of acquisitions and leasing properties with social media platforms and funnels, and real estate event production that extends beyond traditional print and digital exposure. We have cultivated a strategic relationship, focused on events that provide our investor with personal access to the investments.

Investor Collective

Brickell International Realty has successfully forged strategic partners to provide our members with a powerful network a selected group of High Net Worth Accredited Investors, Family Offices and Funds.

Developers in Miami for years have proposed supertalls.

As Miami’s real estate market became supercharged during the past two years thanks to an influx of population and companies, developers proposed five supertalls across the city.

The five projects on tap are reaching higher, aiming to surpass not just Panorama but the 984-foot supertall threshold. One is planned for roughly 1,000 feet and the rest for 1,049 feet, the highest allowed in Miami by aviation authorities because downtown Miami is in a flight path.

https://therealdeal.com/miami/2022/12/22/gotta-go-up-mapping-the-supertalls-on-tap-in-miami/

PMG, Swire, Related, Hyatt, JDS, FECR Plan Miami Supertalls Developers including PMG, the Hollo family’s Florida East Coast Realty, Swire Properties and Stephen Ross’ Related Companies plan supertalls in Miami.

The Federal Aviation Administration (FAA) has approved and issued building permits to developer JDS Development Group (JDS) for 888, a 1,049-foot supertall mixed-use skyscraper planned for 888 Brickell Avenue in the heart of Miami’s Brickell financial district. Designed by Studio Sofield with ODP Architecture & Design as the architect of record, the 81-story tower is expected to yield 1,178,568 square feet of new space, including 259 residential units, 52,144 square feet of health/fitness, 38,727 square feet of food and beverage, and 273 parking spaces operated by a valet.

https://floridayimby.com/2022/12/jds-development-group-gets-faa-approval-for-1049-foot-supertall-888-in-brickell.html

JDS Development Group Gets FAA Approval For 1,049-Foot Supertall '888' In Brickell - Florida YIMBY Florida YIMBY says "Yes In My Backyard" to positive new development in Florida.

BREAKING NEWS: Very proud of longtime Miamian David Martin who will be purchasing what I consider to be the most valuable piece of property in America.

As a product of this community, David has shown the ability to properly steward a property as precious as the former Miami Herald site! I can’t wait to see what he has in store for our city. I know it will be resilient, iconic, and transformational.

Spots can now be reserved for city of Miami summer camps. No payment required for now, this is to just put your names down.

Summer camp will run from 8:00 am to 5:00 pm from June 12th to August 4th.

• 8:00 am - 9:00 am: Drop off time
• 4:00 pm - 5:00 pm will be pick time
• Field trips
• Lunch and snack will be provided.
• Attendance is mandatory.

https://www.eventbrite.com/e/city-of-miami-summer-camp-2023-jose-marti-park-tickets-557789933707?fbclid=IwAR04nTW6vzHx_7DFjmRHt-0jxStv1GNtskq8vqdZNPt1FZPSIiqgpfBUkAY&mibextid=Zxz2cZ

City of Miami Summer Camp 2023 Jose Marti Park Summer Camp Registration opens April 3, 2023 at 9am! Only limited amount of seats available.

This bill criminalizes businesses that employ and provides funds etc… for undocumented workers. Also prohibits allocating funding to organizations that provide identification documents that fail to verify proof the person is a lawful resident of the US and a few other things.

Check both of the bills below 👇🏻

https://myfloridahouse.gov/Sections/Bills/billsdetail.aspx?BillId=78453

https://www.myfloridahouse.gov/Sections/Bills/billsdetail.aspx?BillId=78450

Florida is outshining New York and other major population centers in tackling the soaring cost of housing. The state issued 212,206 building permits for residential units in 2022, compared with just 41,254 in New York and 118,065 in California. This building boom creates a larger stock of housing that keeps prices more affordable: 17.6% of all housing in Florida has a value of less than $100,000, whereas in New York the rate is in the single digits. As a result, 69% of Floridians are homeowners compared with only 54% of New Yorkers — and fewer people in Florida are homeless. The state's brand has evolved from a place for retirees to a hub for techies and entrepreneurs.

https://www.businessinsider.com/florida-population-jobs-economy-housing-battle-new-york-california-2023-3?utm_source=linkedin&utm_medium=social&utm_campaign=business-author-post

There's a battle for people brewing — and Florida is schooling the competition Remote workers are leaving New York and California in droves. If the states want to win the battle for people, they need to learn from Florida.

This could be the case, but South Florida is holding up for now due to net in migration.

With all the Northerners moving in from New York, New Jersey and other northern States we see continued steady demand for market rents. Compounded with numerous financial and investment companies moving to South Florida it looks like we are going to have a soft landing. Affordable housing and older properties will continue to have high demand with the huge number of Cuban and Venezuelans crossing the US Southern border. Barring any major closure and crackdown by the Federal Government the vast majority of immigrants crossing the border will head to South Florida creating continued pressure on rents to remain high.

https://www.mansionglobal.com/amp/articles/apartment-rents-fall-as-crush-of-new-supply-hits-market-5a7ffc5c

Apartment Rents Fall as Crush of New Supply Hits Market Declines signal tenants may be maxed out on how much income they can devote to rent

This will be Miami’s Future Tallest Office Tower the skyline will never be the same!

One Brickell City Centre will have the largest floor plates in Miami, ranging from 50,000 square feet on the floors above the parking podium, and the narrower section of the tower an average of 32,000 square feet. Ceiling heights would range from 15 to 19 feet. New interior renderings show open-concept office spaces and high-end finishes. The featured image above shows the exterior design has changed slightly, as noted by the silver-toned metal panels vertically running down the elevations and a sloped architectural crown element not seen in previous renderings.

https://floridayimby.com/2022/12/developers-unveil-new-details-and-renderings-of-miamis-future-tallest-office-tower.html

Developers Unveil New Details And Renderings Of Miami's Future Tallest Office Tower - Florida YIMBY Florida YIMBY says "Yes In My Backyard" to positive new development in Florida.

Top 10 U.S. towns where millionaires are buying second homes. 3 of them are in Florida.
1. Miami, Florida
2. The Hamptons, New York
3. West Palm Beach, Florida
4. Napa, California
5. Aspen, Colorado
6. Santa Barbara and Montecito, California
7. San Diego, California
8. Jackson Hole, Wyoming
9. Carmel-by-the-Sea, California
10. Boca Raton, Florida
For many of America's most affluent people, having a second or third home is the norm. And according to a new report, they prefer properties in beachfront areas like Boca Raton or near the Rocky Mountains.
Miami, Florida, which includes the city and the island of Miami Beach came in the number one spot on the list. The Henley and Partner's report stated that during December 2022, there were over 800 centi-millionaires with homes in the Florida city.

https://www.msn.com/en-us/travel/news/top-10-u-s-towns-where-millionaires-are-buying-second-homes-3-of-them-are-in-florida/ar-AA17Vu8e?ocid=entnewsntp&cvid=dc8c03d8302d4cc094f1faa80c1242cc&ei=19

Top 10 U.S. towns where millionaires are buying second homes—3 of them are in Florida Henley and Partner's 2023 wealth report revealed the top locations for vacation homes in the U.S. amongst America's affluent.

After two years of skyrocketing rents, Florida’s Senate President Kathleen Passidomo unveiled sweeping legislation to curb housing costs with a pro-development approach. The proposed bill seeks to boost funding and incentives for property owners to designate more units as affordable housing, while also banning rent controls.

Housing has “become a huge burden on our citizens and residents, and it’s something that we have to address,” Sen. Passidomo, a Republican representing the Naples area, said at a press conference Thursday. Last year, South Florida and the Orlando area boasted the fattest rent growth in the nation, surging nearly 30 percent and a little over 20 percent respectively, according to data from Realtor.com. Coming on top of huge rent jumps in 2021, the ballooning housing costs have pushed out many low-earning residents in the hospitality industry, which Florida’s economy heavily relies on.

“We have great respect for the dignity of work. We know that a lower commute means a higher quality of life,” said the bill’s sponsor, Sen. Alexis Calatayud, a Republican representing southern Miami. Dubbed the Live Local Act, the proposal would exempt developments constructed in the last five years from property taxes for each unit targeted at low- and middle-income families, if the property has at least 70 units that offer rents at least 10 percent below market rate. Another provision would allow municipalities and counties to spare property taxes for owners who allocate units for those earning 50 percent or less of the area median income.

The 93-page proposal also includes measures to increase the construction of affordable housing developments by easing the regulatory burden. For example, the bill would prevent local governments from requiring zoning changes for multifamily projects in commercial areas if at least 40 percent of units are set aside for households earning up to 120 percent of area’s median income. It would also require municipalities to provide listings of public land that may be available for affordable housing development.

Florida is now the fastest-growing state in the Union, according to the U.S. Census Bureau’s estimates.

Between 2021 and 2022, Florida’s population increased by 1.9% to 22,244,823. The last time the Sunshine State earned the distinction was in 1957.

Florida is also the third most populous state, behind only California and Texas.

Idaho, the previous fastest-growing state, has a rather small population of 1,893,410 people, roughly the population of Broward County. All those new Floridians have to fit into a limited amount of space. Florida’s population density has increased by 800%, skyrocketing from 51.7 people per square mile in 1950, when we were the 29th most densely populated state, to 401.4 per square mile in 2020. While our population rate was at its lowest in 2020, during the onslaught of the COVID-19 pandemic, 2021 and 2022 saw an influx of new residents from other areas of the country, and the real estate market reflected that change.

“I’m amazed by the number of New Yorkers who are moving here permanently,” Craig Studnicky, CEO and president of the Related/ISG brokerage firm, told the Sun Sentinel last year. “They’re not just buying second homes. It’s the most dynamic market I’ve ever seen. These are prominent homeowners moving here permanently. I’ve never seen this in South Florida before.” The migration resulted in very low housing supplies and thus higher prices. The market has since cooled, in part, because of higher interest rates.

Happy 2023.

We wish you prosperity in the coming year and look forward to working with you soon.

Excellent news for homebuilders and developers.
Hoping this spurs more development of affordable and workforce housing.
We are in desperate need of these.

https://www.nahb.org/blog/2022/12/spending-bill?utm_source=newsletter&utm_medium=1226&utm_campaign=MMB2022 #.Y6mmknhr2IM.linkedin

Government Funding Bill Includes Additional $4.5 Billion for HUD The $1.7 trillion bill to fund the federal government through Sept. 30, 2023 includes key victories for NAHB members.

Miami Ranks #1 Best City in the U.S. to Live & Work!

The Magic City continue to focus on quality of life, safety, and economic freedom.

South Florida is on fire 🔥 as major companies are moving to the area!
Miami-Dade has had its best-ever year for recruiting companies to open offices in the county — and many more are on the way.

Fifty-seven companies either relocated or expanded in the county in 2022, and 150 companies are in the pipeline, the Miami-Dade Beacon Council said in its annual report released Thursday, the Miami Herald reports.

The number of corporate migrants was the most tracked by the Beacon Council, a public-private partnership that serves as the county's economic development arm and has been in existence since 1985. Combined the companies committed to occupy more than 1M SF in commercial properties.

The council projected the county to see over $800M in recurring economic gains from the out-of-town firms making Miami their new home, which combined are slate to create 8,000 new jobs with an average annual six-figure salary.

Some of the companies relocating or expanding in the county include Bradesco, asset management firm Millennium, fintech firm Yield Street and Israeli tech companies Reeco and Sauce, the council's report said, per the Herald.

The corporate migration pattern has led to an office market seeing unprecedented demand. Asking rents in Miami-Dade offices were up 13% year-over-year in the third quarter, according to Colliers, in large part driven by out-of-town firms seeking Miami outposts.

"Many of the global companies — the Fortune 100, the Fortune 50 — are in the market for meaningful requirements," Colliers Executive Managing Director Stephen Rutchik told Bisnow last month. "What I mean by that is 50K SF, 100K SF, 150K SF, 200K SF of office space, which historically would have been an anchor tenant. Few tenants would have asked for that size in our market."

NEW YORK – Florida homeowner Shaniqua Rose is used to fielding offers to sell her home in the historically Black community of Parramore in Orlando.

“I actually got text messages three times in the last month, from the same phone number, asking to purchase my home,” says Rose, who grew up in the area and returned to purchase her own home in 2018.

As a homeowner, Rose is in the minority among her neighbors. “Only 10% are owners,” she says. “I would say at least 80% of the homes that are here are an investor property.”

The housing situation in Parramore isn’t unique. It’s being repeated in major U.S. cities across the country. More than 13% of all homes sold in 2021 were sold to investors, according to the National Association of Realtors® (NAR). First-time homebuyers are 30% of the market right now. In a healthy market, 40% of buyers are first-time homebuyers, NAR says.

“It’s been very difficult for homebuyers to find affordable or starter homes. And when they’re buying lower cost homes, they’re competing with investors who are coming in with cash offers, and that’s difficult to compete with,” says Anne Ray, a researcher at the Shimberg Center for Housing Studies at the University of Florida.

It’s a trend that accelerated during the pandemic, according to NAR.

“We have seen, during the pandemic especially, that investors, whether it’s a mom-and-pop investor or an institutional investor, are coming into the marketplace for rental properties,” says Jessica Lautz, NAR’s vice president of demographics and behavioral insights. “Investors are jumping into the market understanding there’s demand for rental properties, and this allows them to actually increase rents and to have this as an investment property that can be income generating.”

And technology is making it easier for investors to buy affordable homes on a large scale.

“I think what’s relatively new is these large investors picking up lots of properties and using a lot of automated tools and working at scale to acquire properties,” Ray says. “That used to be harder to do.”

When prospective buyers can’t afford to buy, the ripple effect can extend to the rental market.

“It also makes it more difficult for other people to find affordable rental housing,” Ray says, “because people who would have moved on from a rental to an ownership unit are staying in the rental unit.”

Among the homes most desired by investors are those in mainly Black zip codes, like Rose’s property. The Washington Post analyzed 40 major U.S. metropolitan areas and found that Black neighborhoods have been “heavily targeted.”

“Investors are more likely to be purchasing more affordable properties, ones that are 26% below the median home price,” says Lautz. “The higher concentration of institutional investors is seen in lower-income and racially diverse, especially predominantly Black, household areas.”

Investor activity is especially high in southernmost states, from Arizona to Florida, which comes as no surprise to Rose, who sees the change happening around her.

“Gentrification is here in Parramore. You can’t stop it,” she says. “What is not happening, in my opinion, is there’s not a concerted effort to increase financial opportunities for the individuals who live here so that they can afford to stay here. Communities have done it, where they redevelop, and they’ve been able to keep those same people there.”

One solution could be to develop more community land trusts, which are nonprofits that acquire homes and land with the purpose of keeping the housing permanently affordable. Often in these trusts, equity in the home is split between the nonprofit and the homeowner once the homeowner sells the property at an affordable price.

“They’ve (community land trusts) been particularly successful in preserving affordable homeownership in neighborhoods that are threatened with gentrification, often in traditional African-American neighborhoods that are near downtown where gentrification has taken place,” Ray says. “That preserves affordable units for the long term and allows the neighborhood to be more economically diverse.”

Rose, who founded an organization called Change for the Community shortly after buying her house in Parramore, would like to see additional homeownership opportunities for communities of color.

“If you continue to build apartments, which I find is happening in predominantly African American communities with no condos, you’re not creating generational wealth in any way, shape or form,” Rose says. “You’re continuing the cycle of renting. So I think governments, especially here locally, need to start looking at how do we create ownership opportunities?”

Copyright © 2022 Federal Information & News Dispatch, Inc.

Building your Real Estate Network? Here are some advice why you should value your lender guy.

A great architect is an asset when building our real estate portfolio.

Never take advice on a area of life from someone who has never achieved what you plan to.
Choose your mentors and teachers wisely.
Learn “up”.

Cryptocurrency exchange service FTX appears to be the latest corporate powerhouse to swap Chicago for South Florida, hot on the heels of Citadel Securities announcing a similar move in June.

FTX CEO Sam Bankman-Fried said the Bahamas-based financial company would move its U.S. headquarters to Miami via Twitter Tuesday, also announcing the firm's U.S. president, Brett Harrison, is resigning from the company.

The news comes just a few months after FTX made headlines for opening a new 9K SF office building in the heart of Chicago, the South Florida Business Journal reports.

It also marks the fourth major corporate loss for Chicago in as many months. In addition to Citadel, aerospace giant Boeing announced in May it would make tracks for Virginia, while heavy equipment manufacturer Caterpillar went public with plans to take its HQ to Texas a month later.

Bad news for Chicago, however, was met with joy in Miami.

"[FTX] is one of the most innovative companies on the planet and you [Bankman-Fried] are one of the most innovative technologists," Mayor Francis Suarez tweeted Tuesday. "Welcome HOME!"

The company has not confirmed the number of employees that will relocate to the new Miami digs or where the new U.S. HQ would be located.

In November 2021, FTX Vice President of Business Development Avinash Dabir confirmed that the company was developing office space for nearly 20 employees in Brickell, Miami's financial district. Earlier in 2021, FTX acquired naming rights to the Miami Heat's American Airline Arena in a $135M deal.

FTX is just the latest crypto player to move to South Florida, joining fellow crypto exchange platforms like OkCoin and Blockchain.com.

FTX's Dabir spoke at a Bisnow blockchain and tokenization event in August about exchanging crypto and using it to buy Miami real estate. The company exchanges bitcoin, Ethereum and other cryptocurrencies, and is backed by $1.8B in investor funds.

The best investments in life are:

1 - Yourself;
2 - Your businesses;
3 - People.

Let’s go Monday! 💪🏻

A group of developers filed plans for a mixed-use project near Hard Rock Stadium in Miami Gardens with the goal of creating a town center for the city and a destination for fans after events.

Miami Gardens Town Center LLC, a partnership between Aventura developers Faith Group, Immocorp Capital and Azur Equities, filed a municipal pre-application with Miami-Dade County for the 35-acre site at 19199 N.W. 27th Ave. They were seeking feedback from county staff before moving forward with the city.

The developers acquired the vacant property for $25 million in 2021. It was previously owned by the city and a portion of the city will house a new city fire station.

The preliminary site plan filed with the county shows 720 apartments, 270 hotel rooms, 234,000 square feet of retail, restaurant and entertainment space and two 800-space parking garages. Ditman Architecture in Deerfield Beach crafted the site plan.

Gilbert Benhamou, CEO of Immocorp, said the site plan has not been set in stone, but they are working on the final design. His team will partner with New York-based Kushner Cos. for the residential portion of Miami Gardens Town Center, which he said would have 250 units in the first phase and 350 to 400 units in the second phase. The towers would rise up to 15 stories.

Kusher Cos., led by Charles Kushner, has taken a more active role in developing in South Florida in recent years, with major projects in the works in Miami and Fort Lauderdale.

He anticipates building a 220- to 250-room hotel, although they have yet to select a hotel brand. He expects this will be the hotel of choice for NFL teams visiting to play the Miami Dolphins because it’s so close to the stadium.

With the Miami Open tennis tournament, Formula One racing, the World Cup and college bowl games also taking place at Hard Rock Stadium, Benhamou expects plenty of traffic from tourists and fans. Locals would also benefit, he added.

“Miami Gardens residents go to the Aventura Mall or shops in Miami Lakes and Pembroke Pines,” Benhamou said. “Miami Gardens City Center will be a destination for them and for everyone.”

Benhamou said the retail, restaurant and entertainment space would total about 200,000 square feet, including a 20,000-square-foot sporting goods store and 100,000 square feet of entertainment, such as bowling or an arcade. He’s in talks with potential tenants.

“All of the restaurants we are holding discussions with are national brands and more upscale,” he said.

Benhamou said they anticipate breaking ground in the first quarter of 2023, with the residential, hotel and entertainment likely part of the first phase.

The new apartments that were just recently completed on Red Road and Miramar PKWY have already been resold for 295 million! They paid $453,846 per unit. These are considered A class properties.

Affiliates of AvalonBay Communities (NYSE: AVB) paid a combined $295 million for the new Altis Miramar and Altra Miramar apartments.

It’s one of the biggest multifamily deals in South Florida this year, and a sign that investors remain confident in the strength of the multifamily market despite some experts saying rapid rent increases might return to normal. Miramar Red Rd West Owner LLC and Miramar Red Rd East Owner LLC, both joint ventures between Boca Raton-based Altman Cos., Fort Lauderdale-based BBX Capital Corp., and Dallas-based Rockpoint Group, sold the 650 apartments at 11385 S.W. 30 Court, and 2750 S.W. 113th Lane.

Avalon Miramar Park Place, an affiliate of Arlington, Virginia-based AvalonBay Communities, was the buyer. The price equated to $453,846 a unit.

The buildings are located on a 30-acre site near the corner of Red Road and Miramar Parkway, just north of Florida’s Turnpike.

Altis Miramar has 320 units with an average size of 1,059 square feet, while Altra Miramar has 330 units with an average size of 951 square feet.

According to BBX’s first quarter report, Altis Miramar and Altra Miramar were completed in the first quarter and the developer was in the process of leasing up all of the units. While construction on the development, along with several other apartment complexes by BBX and its partner Altman Cos., was delayed and experienced cost increases due to supply chain disruptions, the company said it expects to still profit from the project because of sharply higher rental rates and increased demand from investors for multifamily property.

It’s not hard to understand why AvalonBay wants to own more apartments in South Florida. In its second quarter report, AvalonBay said same-property rental revenue increased 23.9% in Southeast Florida, compared to a rise of only 2.6% in operating expenses. That led to a 39% boost in its net operating income in the region. That was the highest rental revenue increase and the highest net operating income growth AvalonBay experienced in all of its regions.

WASHINGTON – Testifying at a Senate Finance Committee hearing regarding the role of tax incentives in affordable housing, the National Association of Home Builders (NAHB) told Congress that the housing affordability crisis is far-reaching and requires action on several fronts – not just the tax arena.

“The housing affordability crisis is the result of failing to produce enough housing to match demand,” said NAHB Chairman Jerry Konter. “If we are going to solve this crisis, we must drive down the cost to build, as well as the cost to own or rent. Well-structured housing tax incentives can help us achieve this, but Congress needs to take broader action as well.”

“A year ago, nearly one-quarter of new homes were priced under $300,000. Today, it’s 10%,” said Konter.

Recent housing data suggest that the affordability crisis is worsening. In June, housing starts dropped to their lowest level in two years, and NAHB’s latest Housing Market Index (HMI), saw builder confidence in the single-family housing market plunge 12 points lower in July – the second-largest single-month drop in the history of the HMI.

Changing the tax code

NAHB says changes under the 2017 Tax Cuts and Jobs Act significantly reduced the number of taxpayers who itemize because it doubled the standard deduction. However, that changed the mortgage interest deduction into a tax benefit geared primarily to wealthy households.

“A better policy is to scrap the mortgage interest deduction in favor of a 15% tax credit claimed against mortgage interest and real estate taxes paid,” said Konter. “This homeownership tax credit would offer a more effective and progressive tax incentive, help first-time home buyers and young couples with growing families, spur job and economic growth, and keep the nation’s long-standing commitment to housing.”

Konter also urged lawmakers to strengthen the Low-Income Housing Tax Credit by enacting the Affordable Housing Credit Improvement Act to boost production of affordable rental housing. The bill would finance more than 2 million additional multifamily units over the next decade by increasing the credits allocated to each state and expanding the number of affordable housing projects that can be built using private activity bonds.

NAHB also supports a Middle-Income Housing Tax Credit, which addresses a growing need for affordable workforce rental housing, and Konter urged Congress to address housing tax incentives that aren’t indexed for inflation, such as the capital gains exclusion on the sale of a home. He also asked lawmakers to reconsider the current tax limits on the state and local tax deductions.

NAHB’s other affordable housing recommendations

Ask the Biden administration to suspend tariffs on Canadian lumber imports that contribute to “unprecedented price volatility.”
Reduce regulations that account for nearly 25% of the price of building a single-family home and more than 40% of a typical multifamily development.
Help ease the industry’s chronic construction labor shortage that delays building projects and increases costs by promoting and funding job training programs that prepare individuals for careers in the home building industry.
Ease production bottlenecks that have increased building-material costs 19% in just one year.

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